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Say when...

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Okay, welcome to order the village board work session for June 2nd at 5.02 p.m.

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Kelly, would you please note the room? They have no announcements, discussion items,

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village of the forest strategic plan, Bill Chang.

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All right, so as you know, we adopted a strategic plan in 2023 and have been working on that ever

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since. What we like to do is take a look at where we are annually in the strategic plan in meeting

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the objectives and goals. And we try to do this prior to talking about the budget so that we

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can have an idea of what to look forward to. Within the packet is a short memo from myself in the

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actual strategic plan. You should have received a secondary report from me, which summarizes the

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remaining objectives pursuant to the goals set out by the plan. And then comments that I've

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collected either through my discussions with the department heads or yourselves in how we've addressed

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those strategic objectives in the current year and the previous years. So for this session,

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this evening, what I wanted to do was kind of walk through what remaining goals or what

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remaining objectives there are in 27 and 28 and provide you with kind of a foundation of what to

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look at as we prepare for our next work session meeting, which will be our first budget discussion

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at our first budget presentation. Also with that, you'll notice you'll note that as we start to

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address some of these later year items, we should consider or start to consider when we want to go

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in for a redo or if we want to do a continuation of a strategic plan looking into 27 and 28 budgeting

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cycles. So with that being said, I'll pause here to see if you have any questions in general

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about the strategic plan or the history of the strategic plan before we dive into some of the

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details. So as the report here states, there's over 140 action items within the 23 to 28

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strand plan of all the objectives staff has either started or have completed

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all the objectives except for about 21 objectives, which some of them are sprinkled between 23 and

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25, 23 and 25. Majority of them are remaining in 28 and 27 and 28. Now I will say that the dates

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aren't specific, meaning that we have to hit them in that specific year. It was adjusted at the time

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when the plan was created to prioritize the earlier, earlier year items and you'll see

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that a lot of the earlier year items try to address things like the relationships between the village

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board, trustees, the public staff, really looking at some of the what at the time seem to be the

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higher priority items. So with that being said, again, there are about 21 objectives remaining.

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You can see that they kind of centralized around definition of policies. Those are more internal

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facing and then external facing are centralized around kind of the tension this draws between

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village board staff and community, primarily the communication and transparency of the board

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in the village and then with the community in general. And so you'll see under number seven,

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strategic goal there, there's three items that I think we can really start to address even this

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year in 2026, holding quarterly community round tables. I know Colleen's invested in

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having community conversations, having or creating regular opportunities for staff to

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discuss and solve issues identified internally by trustees. We can start to build those into

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our work sessions and then explore bringing in the outside facilitator to conduct a personality

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or communication style training. So if you remember back some of the ones that have been

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on the board for some time, we did a personality assessment a few years back. We can bring that

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back here. I think it was kind of met with mixed reviews. So if you're looking for the page that

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I'm on, I'm on the second page of the document that I handed out. We can bring that back in the

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27 timeframe. If that's something that again the board is interested in, generally we have a third

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party facilitator come in. They provide a test or a quiz ahead of time to identify communication

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styles and personality styles and assessment and then we share those results and we

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we work and exercise off of that. Again, if this board is interested, we can definitely bring that back.

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There are some strategic goals in here in regards to quality of life in the forest,

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centering around transportation solutions. Alex and I have had very early preliminary

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discussions with MPO on what public transportation may look like here in the forest. We have not

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pursued it because it's going to require some discussion. What does public transportation look

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like? And then topic area 10 here. Again, addressing the growth in the forest.

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Talking about representation, exploring at large positions. You elected up positions versus

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ward representation. Again, addressing how we can get more folks interested and represented

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properly. Again, that's really addressing at that potential transparency and communication

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with the community in general. Lastly, the largest category of items yet to be

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completed really centers around future growth of the village. Whether that's addressing

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TIFF funding, addressing social fabric of the existing residential neighborhoods,

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creating a future utilities map or future growth map, identifying utilities, service areas,

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municipal boundaries. We are actually looking this year at a planning effort of future growth

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planning effort to look where our current municipal utilities may be able to expand to without a

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significant investment like a pump station, looking at elevations, etc. That is an objective that

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we tend to start this year and then we expect that to run into next year.

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And then the last couple of objectives here has to deal with as we find this information

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or discover this information, how do we get the educational content out there?

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Part of the solution is to display and be transparent about the information that we collect.

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And so that future growth is not a surprise to the general population.

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We do have a number of items here that you'll see noted that all the objectives within that

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specific strategic goal has been addressed or are in the process. Just know that I don't think

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that it's a lot of the objectives, it's not a one-time fix or complete. So once we've implemented

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something into our system, we continue to maintain it moving forward. So for example,

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as you read through the report, there are a lot of objectives about like updating, for example,

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our website and communications to our website. We did that in 24 and we continue to improve

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that system. You'll see engaged, of course, show up a bunch of times. So we also implemented it

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at 23 and we've maintained and continue to build that in our system. So as we accomplish some of

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these objectives, we hope if it's working, we adopt it into our operation system and continue

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forward with it. It's not that we've done it that one year and we stopped. So we continue to grow

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our operations as the village grows externally. We want to make sure that we grow efficiently

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and effectively internally. So with that, I will pause to see if you have any questions

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on kind of the 21 objectives. The intent is to have meaningful discussion this evening

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and then kind of keep these in mind as we plan for the 2027 budget upcoming.

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Now the thing to kind of realize here is you can see within the first three years of this plan,

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we've accomplished a lot in a short amount of time. We've addressed over 100 objectives.

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So looking forward, we have two years left in the plan. I would,

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I think I'm safe to say that I think we could address a lot of the remaining plans within the next

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year. And the question becomes do we want to wait until 2028 to kind of start on that next

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strategic plan? Where has the things changed enough since 2023 that we feel like we can do

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that a year early? You know, all that impacts kind of how we budget for the 2027 fiscal year.

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So keep that at the front of your minds here. I know you haven't had much time to

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review this. I don't expect, you know, questions on my comments, but we'll have an opportunity to

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do that at a later time. I'll pause, I'll pause there.

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All right. Yeah, a lot of information. So thanks for sharing. Like you said,

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a lot to digest. A couple of things that stood out though, just wanted to mention quickly.

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Stood out to me is there's a few things in there about, you know, housing, people who live and

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work here. Sorry, who work here aren't able to live here. And then addressing the needs of 55

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plus or seniors. I think some of that is in the works. I think we've, you all have done a good

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job of trying to attract that and look for that for future opportunities. The couple of things

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that really stood out to me on a number 11 there. They find and develop educational content for

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residents that explains construction, level limits, and all that and then how TIFF works.

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Because those are some of the things that I see a lot on social media that there's a lot of mixed

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opinions on all different sides about all of this and having something that you can point people to

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would be super helpful. And having it in layman's terms I think would be even more helpful because

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you can find a lot of content but explain it to somebody in the simple terms is where I find it

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difficult. Bill is going to attend our community chat this Friday and explain TIFF at a third grade

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level. Hopefully they're great. Alicia.

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Under item 7 will you just solicit each one of us on our feedback on doing communication

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styles or did you want us to talk about that? Is it each trustee would like to do that or is it

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all or nothing? Yeah, so I think what I'd want to do is this is something that the board wants

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to address. We can definitely get a cost associated with that and then be able to

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build that into our budget for 2027. Probably

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it's time to do that and then you decide if this current board is interested in doing it

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before or after the election next year and kind of time it with what I would call an annual training

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for the board. So there's an option we can try to do it this year yet and look for a spot within

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our HR budget if the board is interested in doing that. We're kind of open to any suggestions at this

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point. I think the last time we did it was probably two years ago now.

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Okay, I'm always favorable to learning about my own communication styles and how I can

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communicate effectively more effectively with others. So there's that. I'd agree with that.

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I've done two or three of these at my own work and they seem great. In reality, I feel like I

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only use them for a week and then I forget everybody's different traits. They're scores,

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they're different names they give everybody and it has not been helpful for me personally.

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I would say it's been helpful but I've done probably a good half dozen or probably even

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close to a dozen of them. So I guess I'll state I've said some people but I think my time here is

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short so I think it's a little bit of a waste of money to include me in on that. I'm willing to

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participate if you so choose but I think a better timing would probably be after a new board in

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April or May or whatever. I guess my takeaway I find it helpful. I'm always very enthused with

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doing it so I wouldn't be against it but to me the main takeaway is that everybody's different

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and you have to treat everybody in a different way and as long as you know that I think we can

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keep moving forward too. Whatever the board choose. Yeah and we want to bring you something

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that's valuable right? So it's if it you know in the mindset of it being a traditional assessment

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if that doesn't work for this board that's fine we can pivot and do something that may be more useful

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and just thinking about exercises and how do we work on communications. To me it's you know

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it's not something that you work on once every year it's you know for it to be effective you know

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it needs to be practiced regularly and so you know is there an ability for us to to put a practice

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in place where we're we're doing that on a regular basis. At least I found that that's the best way

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to implement something like us.

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Frankly I'll have to go along with I mean I'm with Alicia and I'm always curious about exploring

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my style and lack of but I'll have to go along with Brad and Jim too that I frankly can't even

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tell you what happened when the last one was anybody else just throw it at him and we'll do it or not

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yeah when we did this last a couple years ago I learned some things and I came away with some

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things it's hard to remember all the details but I think you know I kind of along with it sounds

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like many of you others of course I always want to improve my communication skills with people and

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I know it needs to be different with people but I feel like I try to do that on a daily basis

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realize that people are different and and get along and and just realize that so I don't know that

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I would be real anxious to do this do what we did again so I guess that's kind of where I'm standing.

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I think you can scratch that plan Bill whoops Melanie.

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You know I was just gonna add I've done these like communication styles assessments through my work

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and I know my style very well now but um what was helpful and what I found to be most beneficial

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about it was that you learn about the people you're working with and what their style is and you

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know maybe we have assumptions about people and then we find out that they're actually coming from

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a different place than we realize so I think that to me is the value of it I hear others that have

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like done it before and maybe don't find it as valuable but that was the piece to me that I did

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find helpful.

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So I don't I don't need necessarily a complete answer it might be you know some kind of a hybrid

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approach to this what I'm hearing is that I think it's it's helpful for the board whatever it is

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to understand the person coming in their communication style I'm wondering if it's something that we

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incorporate into our onboarding process as someone comes in we happen to the assessment so that

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assessments can be shared with the board instead of having a sit down in place and do it all as a

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group type so that way we're not doing seven eight assessments at one time if you know we're

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only doing it for new board members that come in and sharing it with the remaining board that's

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here and vice versa right so communication styles may change over time but slower to change in

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an individual and maybe we think about that individual doing assessment every every few years you know

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if they remain on the board and just kind of thinking out loud thinking out loud here.

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You know you just reminded me of something that I saw I want to say it was some prairie but don't

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quote me on the municipality but they had and say their trusty user board members there was a list

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of say like a 12 or 15 sort of top priorities for the community and then they had each board

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member more or less rank them so to me it was really interesting to see what is the different

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priorities for the different board members and they had it up on their website I mean I'm

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indifferent if we have it on our website or not but I personally think it's good information for

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residents to know how they're bored and things but I guess I heard you at more release of this

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it's good to know where people are coming from and if they know what priorities are important for

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individuals I think that can really be beneficial. Maybe that I guess I thought of that because you're

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saying like I'm forwarding maybe that's something we do.

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Any comments on waiting until the end of 2028 to or waiting until 2028 to do or redo the

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strat plan or is there any desire to try to do a new strat plan in 2027

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which would be one year early. Jim. I guess my opinion would be that do

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say redo maybe in 2028 I personally feel it's still the very applicable plan. I put the emphasis on

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I tend to think it's a bit of my background so I hesitate saying it but I put an emphasis on

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the planning and figuring out the urban say the potential urban service area and things like that

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I think that's going to keep us pretty busy for a year. Anybody else?

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Any other comments on the remaining 21 items that I think a lot of the ones that I have

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remained from previous years which are highlighted you know you can see on the screen here are having

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a do of like holding quarterly round tables identifying issues which isn't only

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taken on by staff but would require some kind of commitment from the board. How do you feel about

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about that? I know time is valuable.

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I'm sorry and you just can you repeat your question Bill? Yeah yeah so as you can see on the board

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here so this is addressing strategic goal number seven tension and distrust between

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the village board staff community at large. So some of the objectives to address specifically

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this goal they suggested during the plan was to one explore holding quarterly community round

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tables to share progress and take the temperature on where things are relation only.

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And then second create a regular opportunity for staff to

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ideate discuss and solve issues identified internally or by trustees and share the progress

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of working through these issues with the board clearly or more frequently. So I think a part of

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why this has stalled previously was because I think I think it had every

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majority of the meetings. It was basically too busy or things were too far apart to you know kind

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of bring the group together. By moving forward it does require not only commitment from staff

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to to address these items and bring them forth but then also some time commitment whether

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these work sessions or during village board meetings or separately to have these type of

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discussions right whether it's between the village board and staff or it's between the village board

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staff and the community to address certain issues. And it may range on a series of things but if

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we're going to instruct that we bring issues and have that discussion that we all be engaged as

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part of. So again considering where the board is currently want to get a feel as to where you're

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at making that kind of commitment.

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I have a quick question for you. Colleen Howard your meetings going are they well attended or?

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So far I've only had one. Okay. In my opinion it was one of the 11 people they're considering

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we often get like one for budget hearings. We have another one this Friday and I've heard at least

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four people that are planning on coming and I'll grant you that it's some of the same

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faces you see all the time but there were some people that I have never met before at the first

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one. Also we've been a little hampered by holding them here in the morning. I do want to

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move them around the day of the week and time of the day. It just so happens that with Bill

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doing a TIFF presentation this week it was easy just to do it here but it took a little heat from

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one person on social media about discriminating against people who work. Yeah thanks for the feedback.

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I think just depending on you know we all varying schedules and so I think the biggest challenge

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too is kind of getting out of sight of the norm to meet people who are working I think is the

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feedback working working families and so that they can participate and so you know I'm always

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going to be open to make myself available to get out of those kind of meet people where they are

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and maybe that means exploring different avenues. I don't know if it would be possible to do you

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know something virtually but it's an option as well. I kind of like the idea of the

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village board work session because frankly I don't know that anything we cover is

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all that earth shaking in a work session. I think this could be really productive and it's

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an hour that people already have set aside and I'll rush Jim.

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I was going to state about the same as far as if I can think of a meeting not too distant past

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and even this one I kind of think is going to be shorter than the hour where we could

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try to hype up some more or less hot topics and then try to get people here to have the conversations

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that it seems like they want to be more participating in our government so that would be one way to

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do it to have a little bit say more friendly or more or less professional as far as timing

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and stuff if you get to have people with open discussion. I do want to caution like going out

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and I think it would be hard to get us all together when it's not say a real regular time

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and also knowing in my background just doing different other public informational meetings

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and stuff and I guess I look at Stacey too as it's very hard to draw people in especially in

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summer when it's nice weather and things like that so I don't know if we necessarily get a good

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attendance so I think we need to be cautious of that and in plan accordingly I guess.

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I really like the idea of our own table more of a discussion than sharing information I think we

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can do both but I feel like the thing we hear a lot about or at least myself is that people come

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here and they want to have conversations with us and ask questions and they don't feel like they

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can at these meetings so setting aside that time where we can be a little bit more available to do

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that I think would be really helpful and go a long way.

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Anybody else? Jim? I would agree with what Brad said I think that makes a lot of sense

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and I you know going back to the whole thing number seven that opening statement tension and

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distrust between the village board and staff I don't feel that we have much of that not any

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more than any other job I don't think that that's a big problem so I just think that we have the

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distrust yet from the community and we just need more communication so I guess that all kind of makes

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sense if we could incorporate that into these work sessions. So I'm hearing that I think those

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board favors having these discussions during the work session so we'll take a look at setting

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aside a few of the work sessions to just kind of have a roundtable discussion.

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What I think we may do as far as setting up agenda is just picking out some of the hot topics of

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that time and kind of setting out a opening it up for discussion at that time. We'll have to think

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about how do we set the agenda because if there's something up coming on a future agenda then the

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board's going to have to vote on whether we take that on and then the roundtable or if we want to

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reserve that separately as a discussion topic. Is that it for a strategic book? Judd? I just

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thought that Alicia brought up doing something virtually which is fine. I'm all for meeting

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people where they can be at but we do run the risk of when you publish a certain link. Some people

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try to steal it so we make it it makes it difficult for us to allow those without preregistration so

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we're still trying to figure out how we can do that and we'll have that discussion I think next

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board meeting but I'm not trying to dissuade it but we just have to find some way to make it

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so we don't have interlopers. And we do and you'll see in the report that we do have other

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speaking opportunities so the parking connects we've been going to utilize those opportunities to

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address specific items or issues within the community. We have our community open house our

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village hall open house that we discuss projects with folks. Occasionally we now

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surveys we try to reach people where they are. Budget listening sessions we have those we try

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to get it out into the communities. It's not required by ordinance per se but as developments

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come in if they're impactful of neighborhoods we've been requesting that the developers host their

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own neighborhood meetings the those type of meetings have paid

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dividends in that you know the notice gets out there early and the developer can resolve issues

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before they reach us before their application process and so you know there's there's ample

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opportunities out there and meeting folks where they're at or holding it here different methods

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that we've incorporated as far as communication. So I I would argue that they're you know we're

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not lacking in communications it's a matter of how far to the extent that we go. Most of this driven

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by staff but I think a large portion of the population wants to to be able to speak to you

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as a board. So I'll take a look at what what's been proposed here.

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I would just add to that I know for some of our park and connects last year one of our park

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and connects we utilized some of the already established events that we have like the summer

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series and things like that we already know that we're bringing in a crowd and so setting up a booth

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at one of those is you know easy to do we're setting up a space. That's something I'm just

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planning on doing to farmers market some of these other events that are going on.

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In fact I think I talked to you. Can you get me a little fable and I

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now there's an idea.

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And if for strategic plan bill or get some more. Yeah no I think that's it. I think most of the

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other ones we can deal with or initiate from kind of a staff process here and introduce that

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wherever the you know budgeting support is needed and we'll continue to address this over the next

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two years plan for the next planning effort to kind of be in that 2028 time frame so that we can

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implement it in in 2029. I think I have the direction I need. Okay if you have any questions

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about the report or comments feel free to reach out to me or if you want this or like

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this review to come back at different increments throughout the year we're happy to do that.

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It has stated right now we're doing it annually prior to the budget so that you

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can get a preview of what the strategic objectives are going into the budgeting cycle

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but we're happy to break it. It has many times as you you want. Thank you. Thank you.

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Moving on to department updates administration update bill.

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So two updates here we are opening up negotiations with the forest professional police association

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I believe our next our first meeting with with the union is next week as we work through that

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process. Chief and I will update you as we go on and so just wanted to relay that to you.

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Secondly here as you know we've started our internship management internship with

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Gavin I want to also report that we are coordinating efforts with the city of

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Corona villages of Wanaki and McFarland as they also have management interns so

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being able to get them out to see the development in different communities and learn from different

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experiences I think is all part of that internship experience. Any questions at all?

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Thanks. Finance update Brandon. Yeah so Bill had mentioned at the beginning of the

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strap plan update but just a reminder for the next workshop that we'll be doing that

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2027 budget kickoff and just getting our thoughts about the budget priorities

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available so just take some time start thinking about that and just come in next time with an

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open mind. Okay um police department I'm told Chief Olson does not have anything to present

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public service update. Just a quick update acre parkway where the progress is working we should

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have the water main completed by the end of the week and then we'll move back again to the

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west end of the project and start working on the sanitary sewer next week and then also

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connections lateral connections so that project is moving along at a good good pace so

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that's appreciate community development update Alex. One other thing quick sorry seminal way

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resurfacing is starting next Tuesday so there'll be some other impacts there. Okay Alex.

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We launched the home reach divorce program on May 20th and so far it has not had the traction

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that we had hoped it would. We did receive two applications but I think we were kind of

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bracing ourselves for an onslaught that did not occur so we'll continue to kind of plan

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marketing around that and getting the word out. I was just talking with Alicia before the meeting

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here and I think part of that is just the fact that people need to be actively pursuing a house

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and then have an active house project or home improvement project too and I'm sure that not

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everybody was just sitting around with those things ready for a grant program to open up so

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see how the next couple weeks shake out but we'll plan to do some additional marketing as well.

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Administrative Services Update Kelly um Board of Review is going to be held on June 10th at 5 p.m.

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here and then also today is the last day for applications for the vacant trustee seat.

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I will be closing the application first thing in the morning to give people through

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the rest of today. So far we have received five applications and after I close that I'll send

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those all out to you tomorrow. I know I sent a couple of them. We received a few more over

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the weekend and then one just this evening. So great thanks. Creation and community enrichment

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update. So we have our first farmers market tonight which I think is going really well. We've got

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some nice weather. We had our first Friday flick or I'm moving in the park on Friday and also I

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think we had really good attendance for that. That was also in conjunction with the bike rodeo that

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the police department works with us on. I think we had 30 participants in the bike rodeo and again

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we had really good attendance. It's super nice being able to start the movie a lot earlier with

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the news screen that we are renting which I think hopefully families enjoyed. I got some

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good comments for some people. We have our next summer series event is this Thursday piano fondue

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will be performing here in the park and then this Saturday is Dragon Arts. So it's quite a busy

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time this week. So we'll have artists starting to set up on Friday. I think about at least 80

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artists are going to be coming to set up Friday and then we have 140 plus artists with 163

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booths that are filled and then discover Wisconsin will actually be attending to film the event

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and I think they'll be interviewing Tricia for a section to talk about the event. Tricia did get

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all the tiles sold for the America 250 mural so we have two more classes that we're hosting that

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are the remaining tiles that need to be completed. One is on this Thursday and then one is next

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Tuesday and so then after next Tuesday we'll start assembling the mural and again hoping to have that

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displayed and unveiled for the 4th of July. So the library is allowing us to use a space

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there to be able to put that together because it's a big puzzle ultimately.

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And then we are still looking for judges to help with the parade for 4th of July so if you're

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interested please let me know so that we can get connected with you. We had baseball and softball

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starting this week. We have over 400 participants between the different leagues. The complex is up

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and running keeping us busy there. We have all of our summer programming starting in the next

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two weeks which I didn't even get a number for that. The community garden is full with all the

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plots except for a couple small raised beds and then we do have the three park projects that are

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being completed the Conservancy Common Splashbed River Bed and Park and Chino Donald Conservancy

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Commons. They'll be demoing the concrete starting this Thursday and that should be done by August 28th

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at the latest because we want it to be done for Riverbest and then Riverbend and Chino Donald

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will be done in October. Okay a lot of action. Well you sure can.

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I just wanted to give kudos to the rec department for all the great work. We enjoyed the summer

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series over the weekend on Friday and then my daughter participated in the dance class so we love

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Ms. Mallory. The recital at the high school was just it was great so just wanted to give kudos

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as a parent who was kudos participating in those activities. It was all great. Thank you.

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Give me a communications update. Stacy Herman.

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I will just echo that I communicate everything that these guys all share

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keeping the website up to date, engage the course up to date and then doing the monthly newsletter

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that goes out and then encouraging residents to sign up for those email and text alerts so they

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know all of the projects that are happening. Thank you ma'am. Okay any other business that

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monthly comes up for the committee for discussion? Oh no. Alicia do you have something? Okay.

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Next up is adjournment. Is your motion to adjourn? Motion to adjourn.

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Yes, second second. Motion by Alicia, second by Jan. All those in favor say aye. Aye.

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All those opposed? No. Motion carries unanimously. We're adjourned at 5.45 and bill on the board meeting at 6.

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Sorry do you want me to repeat that? I am calling to order the village board

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meeting of June 2nd at 6 p.m. Yeah leave it your please not roll and let's see who has it led us for a

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one. Jim you want to lead us in the Pledge of Allegiance?

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Number four on our agenda is announcements. I have no announcements. Number five is the consent

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agenda. Does anyone want anything separated out? Could you separate out 5.12? Okay.

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Separating out 5.12 are leaving us with 5.11 proving submittal of the DNR compliance maintenance

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annual report and the resolution authorizing village finance director to issue a facility bond to

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cascade development. Motion to approve? Motion by Brad is there second? Second. Seconded by Alicia

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Any discussion? Good work on 5.11.

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I'm sorry I didn't hear you. I just said good work. We have passed with flying colors and

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nothing was found which is great. We did. Good job guys. Okay. All those in favor of the

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passage of those two resolutions indicate by saying aye. Aye. All those opposed? No.

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Motion passes unanimously. Resolution 2026, 065 resolution authorizing the village finance

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director to issue a municipal revenue obligation to LLCG properties of the forest LLC.

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Go ahead Brad. Yeah so I just had a question about where was this property exactly. I was

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trying to figure it out and we're struggling and then it read to me that there was a

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payment on September 1st and it didn't. It's all like it was an annual or continuous payment and

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not at one time deal. I just wanted to verify. Bill Brandon? Who's taking the call?

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This bond correlates to a late city glass property. It's in tax and domestic number

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6 in that village entered into a development agreement with late city glass and they started

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construction I believe two years ago now at the end of the at the end of the season construction

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season there constructed through last year completed construction last year assessment this year

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and they've met their guaranteed value pursuant to the development agreement

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this year. So the next step in that development agreement is to issue a municipal revenue

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obligation bond promising that we will make payment for that tax income and financing

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to late city glass or lcg over the next I believe seven years off the off the top of my

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head here those payments are made the first payment coming in 2028 and each year they're

387
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after until the total bond amount is paid off.

388
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Good. All right. Okay. Is there a motion to approve resolution 2026 065?

389
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I'll make that motion. Thank you Jim. Is there a second?

390
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I'll second.

391
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Melanie seconds. Motion by Jim second by Melanie to approve 2026-065.

392
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All those in favor indicate by saying aye. Aye.

393
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Those opposed no. Motion carries unanimously.

394
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Number six public appearances not related to anything on the agenda. We have nothing.

395
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We have no presentations. All business. No new business.

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We will go to 9.1 ordinance 2026-010 and ordinance approving a certified survey map

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redividing approximately 59 acres located west of Hickory Lane and southwest of Lindy Lane

398
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for industrial and commercial uses or staff presentation bill.

399
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I believe Alex is going to take this one. I'll take the next one.

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So you've got a memo in your packet from a planner marker offers the next three items on

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the agenda are all associated with this proposed development. This is a proposed development of a

402
00:49:44,320 --> 00:49:53,920
218,000 square foot distribution facility on Hickory Lane. The first item here is a CSM. For

403
00:49:53,920 --> 00:49:57,680
those of you who were here at the time this was previously a site that had

404
00:49:58,720 --> 00:50:05,360
proposed development of three larger 295,000 square foot industrial buildings on it. The CSM

405
00:50:05,360 --> 00:50:11,040
would reconfigure that just for a little bit of background on where this project is at and its

406
00:50:11,040 --> 00:50:17,120
approvals. Planning and zoning did review the CSM as well as a conditionally used permit

407
00:50:17,200 --> 00:50:24,400
at its meeting on May 26th that conditionally used permit included among other things

408
00:50:24,400 --> 00:50:30,960
conditions that the building be verified that it's solar ready the development itself be

409
00:50:30,960 --> 00:50:36,080
EV ready with infrastructure installed approval of emergency safety security and

410
00:50:36,080 --> 00:50:42,640
protective services plan operational policies related to idling and vehicle

411
00:50:43,520 --> 00:50:49,120
vehicle idling based on the county's ordinances. I believe there's also conditions of snow and ice

412
00:50:49,120 --> 00:50:55,200
clearance practices according to the Wisconsin salt wise and then as we'll see on a later item

413
00:50:55,200 --> 00:51:00,080
here tonight some cost sharing provisions and the documentation that no wetlands on the facility

414
00:51:00,080 --> 00:51:06,880
site are present. So the development is also anticipated to come before planning and zoning

415
00:51:06,880 --> 00:51:15,760
on June 8th for site plan review. Exhibit A on your screen here is the reconfigured CSM.

416
00:51:15,760 --> 00:51:21,200
Couple things to point out there are a couple new streets here Juniper street is the east west

417
00:51:21,200 --> 00:51:27,680
across the north side of that parcel. Muscle wood lane connects uh Lindy lane to that new street

418
00:51:28,320 --> 00:51:33,600
and then a realignment of cake parkway to the south side of the site. There's also outlet

419
00:51:33,600 --> 00:51:40,560
outlet one which will be retained by the village for stormwater and then lot one and two on the

420
00:51:40,560 --> 00:51:44,960
north side will be available also for stormwater and then the potential commercial development as

421
00:51:44,960 --> 00:52:00,800
well. Whoever's got the mouse if you could go to exhibit B there. Exhibit B in the packet while

422
00:52:00,880 --> 00:52:05,680
they're pulling this up here is just a showing highlighted a couple utility easements that will

423
00:52:05,680 --> 00:52:09,760
need to be released as well as part of this. Those were associated with the original CSM

424
00:52:10,320 --> 00:52:16,160
and that configuration on June 16th we've got a public hearing scheduled to vacate where you can

425
00:52:16,160 --> 00:52:22,720
see there the current dedicated right-of-way of cake parkway in favor of the realigned one should

426
00:52:22,720 --> 00:52:31,360
the CSM move forward. Uh can I ask the mouse again the anonymous mouse to pull up the development

427
00:52:31,360 --> 00:52:37,760
agreement on a future item I just want to point out exhibit A to this and a reconfiguration that

428
00:52:37,760 --> 00:52:43,360
will take place after the CSM after this excuse me the vacation takes place this would be all the

429
00:52:43,440 --> 00:52:54,240
way at the end. So Lindy Lane currently extends all the way east to Hickory and as part of this

430
00:52:54,240 --> 00:52:59,920
development there'll be a proposed vacation of a portion of it highlighted there hatched there

431
00:52:59,920 --> 00:53:08,160
and the dedication of right-of-way for a cul-de-sac ball and then if you could pull up the ordinance

432
00:53:08,240 --> 00:53:15,600
we can go right to that so I am making you bounce around. I'm doing my best mark impression so

433
00:53:18,720 --> 00:53:25,280
so the ordinance itself a lot of conditions contained in here are mostly cleaning up the CSM

434
00:53:25,280 --> 00:53:31,680
I would say smaller details a couple ones to point out here would be as I mentioned the dedication

435
00:53:31,680 --> 00:53:36,720
of right-of-way for that Lindy Lane the future reconfiguration of that once we do proceed with

436
00:53:36,720 --> 00:53:45,920
the vacation another condition of approval here is number five there at a drainage easement to the

437
00:53:45,920 --> 00:53:52,560
benefit of a drainage district which was identified a farmer came and made public comment on one of

438
00:53:52,560 --> 00:53:58,000
our meetings indicating that that would need to be addressed and then at the last planning and

439
00:53:58,000 --> 00:54:03,520
zoning meeting I believe Commissioner Simpson requested access restrictions along Hickory Lane as well

440
00:54:03,520 --> 00:54:10,080
that the last piece of this condition will hear so that would prohibit access to out lot one which

441
00:54:10,080 --> 00:54:16,000
eventually will be the village retained out lot and then having a restriction of one additional

442
00:54:16,000 --> 00:54:22,800
no greater than one driveway on the development lot to Hickory Lane so happy to answer any questions

443
00:54:22,800 --> 00:54:32,160
associated with the CSM for you. I got one clarifying thing I think Randy said it might be a challenge

444
00:54:32,160 --> 00:54:37,920
for them to make June 8th I just wanted to make that clear if they don't make June 8th it would be

445
00:54:37,920 --> 00:54:47,120
June 23rd or okay. Certainly if if it's not on the June 8th first site plan you're referring to

446
00:54:47,840 --> 00:54:52,240
then the next planning and zoning meeting would be June 23rd but I believe we're anticipating that

447
00:54:52,240 --> 00:54:59,920
that'll be a June 8th meeting. Anyone else? Is the only access for really in and out of this

448
00:54:59,920 --> 00:55:08,320
facility through like the no nope so let's see if maybe the development agreement has a good

449
00:55:08,320 --> 00:55:18,400
development map on it we can go back there so access would be from there you go cake parkway

450
00:55:18,400 --> 00:55:25,440
so the reconfigured cake parkway off of Hickory Lane and then that newly minted Juniper Street.

451
00:55:26,160 --> 00:55:32,320
Cake doesn't go across Hanger State. No. Yeah.

452
00:55:40,960 --> 00:55:49,520
We do have the one person registered to speak on this oh I'm sorry just to clarify the question

453
00:55:49,520 --> 00:55:54,640
so I believe Trustee Court was asking about access off the interstate is that correct or

454
00:55:54,640 --> 00:56:00,960
going into the region not specifically the site I just want to make that clarification

455
00:56:00,960 --> 00:56:04,000
right how travel would be going in and out of there predominantly

456
00:56:06,080 --> 00:56:10,880
yeah so predominantly and the TIA or traffic impact analysis that was provided

457
00:56:11,360 --> 00:56:18,240
and a majority of the traffic coming off of Highway, Highway V I believe 70% of the traffic going to

458
00:56:18,240 --> 00:56:24,720
the interchange area and then the remaining 30 either west or south.

459
00:56:31,760 --> 00:56:38,160
Are we good? All right we do have one register to speak that is CAS Summerfeld

460
00:56:38,320 --> 00:56:46,880
is she on zoom she is not present in the room

461
00:56:49,920 --> 00:56:57,680
okay well the form she submitted indicates that she wanted to speak on 9.1 and it was opposed to it

462
00:56:59,920 --> 00:57:06,960
so I guess we'll move on from there is there a motion to approve 2026 010

463
00:57:08,560 --> 00:57:20,400
I'll make a motion to approve it as written. Thank you Jim. Motion to approve is there a second

464
00:57:25,680 --> 00:57:33,280
I'll second it. Any further discussion? All those in favor indicate by saying aye.

465
00:57:34,240 --> 00:57:39,120
All right I almost opposed no. Motion carries unanimous.

466
00:57:44,880 --> 00:57:51,680
9.2 resolution 2026-067 resolution authorizing village president and clerk

467
00:57:51,680 --> 00:57:58,160
executed development agreement with Ryan company's U.S. aim staff presentation by bill

468
00:57:58,560 --> 00:58:07,280
So as you know we like to accompany our certified survey maps or plans with a developer agreement

469
00:58:08,320 --> 00:58:12,800
this development agreement is for public improvements associated with the project

470
00:58:15,200 --> 00:58:22,000
as Alex had explained there's a series of maps in here that shows the context of the property

471
00:58:22,080 --> 00:58:28,880
and surrounding areas this map here shows the site plan or proposed site plan at this moment

472
00:58:29,920 --> 00:58:34,480
and then there's there's different provisions within the development agreement specific to

473
00:58:36,000 --> 00:58:41,920
design requirements construction requirements things like insurance coverage,

474
00:58:42,400 --> 00:58:51,040
surety amounts fees associated with the development specific to this development agreement that

475
00:58:52,320 --> 00:58:57,680
is unique to this project like I stated there was a traffic impact analysis conducted

476
00:58:58,320 --> 00:59:06,800
and found to or found that there would be significant traffic impact to hickory lane

477
00:59:07,600 --> 00:59:13,760
intersection at hickory lane and county highway v there's some concern around geometric

478
00:59:14,720 --> 00:59:22,400
the geometry of turning and then some impact to the interchange too and so for that

479
00:59:22,400 --> 00:59:28,320
negotiation through this development agreement you'll see at the very end of the development

480
00:59:28,320 --> 00:59:36,240
agreement as part of the exhibit an allocation of cost share for the the improvements associated

481
00:59:36,240 --> 00:59:42,720
with the development agreement happy to answer any questions that you have at this time

482
00:59:43,280 --> 00:59:47,280
I'll save the specifics since they were included in the packet here

483
00:59:53,280 --> 00:59:58,080
well there was a lot of information in the packet on this one so I could have missed it but I didn't

484
00:59:58,080 --> 01:00:03,280
see anywhere so I'm just curious is it known when development would begin and when the roadway

485
01:00:03,360 --> 01:00:07,520
improvements would happen like or is it too early in the process or do we have an estimate of when

486
01:00:07,520 --> 01:00:15,520
that would start yeah so in in talking with the developer and the representative here this evening

487
01:00:15,520 --> 01:00:19,760
they can talk to you more about the site specific improvements we anticipate that as

488
01:00:19,760 --> 01:00:26,640
soon as they get site approval they would break down and move forward as far as hickory lane and

489
01:00:27,120 --> 01:00:35,120
lane those will be public projects though they're currently proposed as part of the CIP

490
01:00:35,120 --> 01:00:41,440
amendment that you will see later on this evening and we would anticipate that as soon as it's

491
01:00:41,440 --> 01:00:49,280
approved by yourselves we would you know prepare and complete the drawings and get that out to bid

492
01:00:50,080 --> 01:00:56,720
um it's my understanding that the developer wants to open their doors in in 2028

493
01:01:01,520 --> 01:01:05,520
excuse me anyone else have any

494
01:01:09,760 --> 01:01:15,120
so I think in our packet there was different numbers or dollars amounts associated different

495
01:01:15,200 --> 01:01:20,320
improvements and I don't remember the exact number but I want to say it was like around a half a

496
01:01:20,320 --> 01:01:30,160
million for the the interchange yep 520 thousand yeah so I can I can go through some of the cost

497
01:01:30,160 --> 01:01:35,920
sharing and so we took a look at what the traffic impact analysis was and we contributed that

498
01:01:36,560 --> 01:01:43,520
to potentially what the traffic projections were in the region for that area and so the cost

499
01:01:43,520 --> 01:01:53,920
sharing that we've we've come to agreement on is a 1,139,000 contribution towards hickory lane

500
01:01:54,480 --> 01:02:00,800
again hickory lane will be a a public project so the village would be responsible for that

501
01:02:00,800 --> 01:02:08,560
that's a village obligation as part of the hickory lane improvement is also the intersection at

502
01:02:08,640 --> 01:02:15,920
hickory lane and kaiai way b then tension there is to install traffic lights to help control that

503
01:02:15,920 --> 01:02:22,000
intersection our contribution from the developer for that intersection is 190 thousand dollars

504
01:02:22,880 --> 01:02:27,360
um as Alex had had shared earlier there is modification to

505
01:02:29,760 --> 01:02:36,320
go to Lindy Lane here first to Lindy Lane uh in rearranging that traffic we were concerned about

506
01:02:36,320 --> 01:02:43,040
impacts at uh two intersections that would be um very close together and so developers

507
01:02:43,040 --> 01:02:50,400
contributing 750 thousand dollars to that project that is a public project also though so village

508
01:02:50,400 --> 01:02:58,320
will be owner of that uh those funds all the funds will be escrowed uh within um starting time 30

509
01:02:58,320 --> 01:03:05,280
days after this agreement is executed and then uh Jim pertaining to your specific question about

510
01:03:05,280 --> 01:03:13,920
the interchange at the interstate and and um county highway b pursuant to that tia and distribution

511
01:03:13,920 --> 01:03:20,960
of traffic um developer has agreed to contribute 520 thousand dollars towards that project the

512
01:03:20,960 --> 01:03:26,480
way that that's going to work is that the money will be put in escrow um if the project moves forward

513
01:03:26,480 --> 01:03:31,760
because there's still other approvals associated with that um then we'd be able to pull from that

514
01:03:31,760 --> 01:03:36,000
escrow account if the project does not move forward that money goes back to the developer

515
01:03:38,560 --> 01:03:43,920
okay so just to verify i think you answered my question with all the answering it but

516
01:03:44,640 --> 01:03:51,840
the percentage is based on if the other large user would come in so really the probably the

517
01:03:51,840 --> 01:03:58,000
whole interchange project wouldn't happen if that other large user didn't happen is that correct

518
01:03:58,800 --> 01:04:04,000
so without the other large user i don't believe we would we would redo that interchange to that

519
01:04:04,000 --> 01:04:10,480
extent okay i can answer as to whether or not we may consider uh doing some kind of improvement

520
01:04:10,480 --> 01:04:17,120
at that interchange um depending on time and uh traffic at that point okay thank you

521
01:04:17,120 --> 01:04:30,720
red sorry uh for a b and d what is the total expense expected for those

522
01:04:35,680 --> 01:04:40,800
you'll see that within our capital and permit plan update so later on in the agenda uh hickory

523
01:04:40,800 --> 01:04:46,640
lane was scheduled for an estimate of four million uh four million dollars within there

524
01:04:47,280 --> 01:04:54,240
and when within the development agreement section a and section b was um coated within

525
01:04:54,240 --> 01:04:58,960
there as an offset of revenue for the hickory lane adjustment and then lindy

526
01:04:59,760 --> 01:05:04,880
uh was up just about the seven hundred fifty thousand dollars

527
01:05:06,320 --> 01:05:10,240
or no with a little over eight hundred and seventy eight thousand it turned out to be

528
01:05:11,040 --> 01:05:17,040
so these were already pre-planned projects we they are throwing within here as a proposal

529
01:05:17,040 --> 01:05:23,440
for an amendment done later on in the agenda so this clarification hickory lane has always

530
01:05:23,440 --> 01:05:32,720
ran in the villages um plans to update um it's very reflected in in our various um financial plans

531
01:05:33,360 --> 01:05:39,760
uh lindy lane the realignment of that wasn't was not necessarily in our plans and that's why

532
01:05:39,760 --> 01:05:46,720
you know the the share of it is a lot larger there um kate parkway extension to the west boundary

533
01:05:46,720 --> 01:05:52,880
line has always been a part of the transportation plan uh exactly where that aligned i think had

534
01:05:52,880 --> 01:05:58,960
some flexibility um and that's why you see the the the proposed vacation of the old right away

535
01:05:58,960 --> 01:06:06,000
for a kate parkway and sliding that southward um juniper street uh i don't believe it was originally

536
01:06:06,000 --> 01:06:12,000
intended um but because the parcel is such a large parcel we felt that it was necessary to have that

537
01:06:12,560 --> 01:06:17,680
um across to the west side and naturally then split the industrial area from the commercial area

538
01:06:18,240 --> 01:06:26,000
yeah i forgot where i was but okay um

539
01:06:28,720 --> 01:06:34,880
this is a lot of information that came down really fast and i'm a little bit confused on

540
01:06:36,880 --> 01:06:41,920
the intersection itself we don't know what kind of intersection it's going to be

541
01:06:41,920 --> 01:06:47,600
at this point correct because we don't know are you talking about the interchange the interchange

542
01:06:47,600 --> 01:06:54,080
that's what i've been yet correct we we have an estimate of potentially what uh improvements

543
01:06:54,080 --> 01:07:00,080
are needed for the interchange the village board has not made a decision on that yet uh we are in

544
01:07:00,080 --> 01:07:07,920
negotiation with the the developer proposing um improvements to the interchange um but that's

545
01:07:07,920 --> 01:07:15,840
still in negotiation and so what we do know is that pursuant to the state's estimate of what that

546
01:07:17,280 --> 01:07:25,680
reconstruction is is about 17 million dollars thereabouts and so as part of that and we know

547
01:07:25,680 --> 01:07:31,520
that this project will impact that interchange not necessarily looking at the budget of it but

548
01:07:31,520 --> 01:07:36,880
looking at the traffic impact and associating that with the total budget um that's how we arrived

549
01:07:36,880 --> 01:07:42,960
at that five hundred twenty thousand dollars okay so what's concerning is the um the traffic

550
01:07:42,960 --> 01:07:51,360
impact because we know it's going to be significant just from this um particular venue so

551
01:07:53,040 --> 01:07:59,280
if we go ahead with this tonight nine point two there's still a lot of other steps in this

552
01:08:00,160 --> 01:08:07,120
going forward we're not really tied into it fully are you talking this project or the other

553
01:08:07,120 --> 01:08:14,480
projects this project so so the conditional use permit for this project was approved at the planning

554
01:08:14,480 --> 01:08:23,200
and zoning commission meeting that's so that's that's the entitlement for it it's zoned for it um

555
01:08:23,200 --> 01:08:30,080
the development agreement is in coordination with the certified survey map that this board

556
01:08:30,080 --> 01:08:35,920
just approved i believe the only remaining approval left is the site plan which will come to the

557
01:08:36,640 --> 01:08:43,120
planning and zoning commission that does not come to the village board so um i would say a majority

558
01:08:43,120 --> 01:08:49,680
of the approval is necessary for this development is has currently um or has been given or is currently

559
01:08:49,760 --> 01:08:52,640
under consideration now okay thank you

560
01:08:55,520 --> 01:08:57,360
anyone else good

561
01:09:00,000 --> 01:09:06,400
i guess i i don't know if i came up tonight so i'm guess i'm looking at alex or bill could you

562
01:09:06,400 --> 01:09:11,280
explain a bit of the traffic because i know it's been explained to the planning and zoning

563
01:09:11,280 --> 01:09:19,040
as far as how it's going to be off you can things like that okay yeah um trying

564
01:09:19,680 --> 01:09:24,080
to see if there's a document that might describe that a little bit more um probably

565
01:09:24,080 --> 01:09:30,320
whoever's got the mouse if you go back to marx memo for the previous previous item might have a

566
01:09:30,320 --> 01:09:36,320
description of some of the operational impacts i guess i would also um that as bill kind of

567
01:09:36,320 --> 01:09:40,480
mentioned we do have the developer in the room too if they wanted to come up and maybe speak to

568
01:09:40,480 --> 01:09:44,960
some of the timing of that too but the second i think we just scrolled over a second paragraph

569
01:09:44,960 --> 01:09:54,800
go up a little bit uh proposed facility yeah there you go so um operations with

570
01:09:54,800 --> 01:10:01,920
deliveries between 9.50 a.m and 9.10 on site employment uh speaking to some of the shifts

571
01:10:01,920 --> 01:10:07,120
that are there they um i guess i can i if you don't have it already i can send you their

572
01:10:07,120 --> 01:10:10,800
conditional use of permanent narrative which goes into a little bit more detail on their

573
01:10:10,800 --> 01:10:15,600
operations but i guess uh patrick if you wouldn't mind maybe just kind of explaining that too that

574
01:10:15,600 --> 01:10:17,040
sounds like that would be helpful as well

575
01:10:25,120 --> 01:10:28,800
please just give your name and uh municipality for the record

576
01:10:29,440 --> 01:10:33,760
yep uh patrick marty ryan company's uh 309 north water street milwaukee discussing

577
01:10:34,320 --> 01:10:38,800
thanks go ahead uh can we go to this site plan

578
01:10:40,800 --> 01:10:51,440
so like alex mentioned uh the the van traffic will be staggered to avoid p traffic times um

579
01:10:51,440 --> 01:11:02,240
specifically i believe it was 10 a.m to to 2 p.m and then 6 p.m to 9 p.m. uh jason vanless uh

580
01:11:02,240 --> 01:11:08,000
madison misconsin yeah so typically and i don't have this committed to memory but but broadly uh

581
01:11:08,000 --> 01:11:13,680
these facilities offer a staggered approach to dispatch so the largest shift of the workers

582
01:11:14,240 --> 01:11:19,040
in the building will start at 1 a.m and that shift is probably about 100 folks or so

583
01:11:19,760 --> 01:11:26,160
and then another shift will come in uh usually around um at 2 p.m. 4 p.m. and then 9 p.m. and the

584
01:11:26,160 --> 01:11:30,560
shifts get uh smaller and smaller as you kind of go on throughout that that level but the

585
01:11:30,560 --> 01:11:36,640
larger shift again starting at 1 a.m. and then dispatch um typically it happens between 9 and

586
01:11:36,640 --> 01:11:42,480
noon at these facilities i think this particular one uh is around 10 a.m. and that process finishes

587
01:11:42,480 --> 01:11:48,560
at noon and they dispatch in 20 minute increments uh and it's purposefully just uh distributed that

588
01:11:48,560 --> 01:11:55,600
way so we are hitting non uh peak hours uh locally so the traffic study looked at uh what the peak

589
01:11:55,600 --> 01:12:01,360
hours are in this region uh and then we intentionally design our operations clock to miss that mark

590
01:12:02,160 --> 01:12:08,400
i will just add to so um veer bicker obviously our consulting engineer we worked with kl engineering

591
01:12:08,400 --> 01:12:14,160
too on the traffic side of things to then from our side evaluate some of the tia and all of the

592
01:12:14,160 --> 01:12:18,560
public improvements that we just sort of discussed not only here in the development agreement but

593
01:12:18,560 --> 01:12:24,400
viewing in the csm were born out of accommodating some of that traffic so if they didn't have this

594
01:12:24,400 --> 01:12:29,280
impact those road away improvements wouldn't have been there to avoid some potential queuing issues

595
01:12:29,280 --> 01:12:34,880
those types of things additionally in the development agreement that's in packets as well

596
01:12:34,880 --> 01:12:41,360
there's a provision that says we can monitor going forward to see if there are any additional impacts

597
01:12:41,360 --> 01:12:46,960
and then um there's clauses about uh conchering for additional improvements should they be necessary

598
01:12:46,960 --> 01:12:57,440
as well so you said your vans come out in 20 minute increments how many vans

599
01:12:58,320 --> 01:13:06,400
maybe leave it at one time um the the waves it believers not sure how deep this particular

600
01:13:06,400 --> 01:13:10,400
canopy queuing is um patrick i don't know if you know off the top of your head but it's typically

601
01:13:11,280 --> 01:13:14,080
uh 30 to 40 vans in a wave

602
01:13:16,640 --> 01:13:23,440
one they all leave it once uh they'll leave in um in staggered increments so um there's usually uh

603
01:13:23,440 --> 01:13:32,080
four to six columns of vans that are um uh like five to eight deep uh and then by each each lane

604
01:13:32,080 --> 01:13:39,200
is dispatched at one at a time and so once that that first column will pull the leaves the queuing

605
01:13:39,200 --> 01:13:44,400
or the loading uh pad then the next one is allowed to leave and then the next one and then the next

606
01:13:44,400 --> 01:13:51,920
one so the dispatch period takes about five minutes total and then the next wave goes in so while

607
01:13:51,920 --> 01:13:56,000
the vans take about 20 minutes to load total dispatches about 30 minutes per wave

608
01:13:57,520 --> 01:14:03,680
and again uh looking at the northern street that juniper street so part of the strategy there is

609
01:14:03,680 --> 01:14:09,440
to bring any additional traffic impacts from those waves to that street and not necessarily on a

610
01:14:09,440 --> 01:14:14,640
more of our higher traffic roadways like to hickory lanes or highway B so sort of a

611
01:14:14,640 --> 01:14:20,160
offering strategy i guess anyone else have anything

612
01:14:23,840 --> 01:14:30,080
when do you plan on breaking ground breaking ground hoping it hoping in july let that turn

613
01:14:30,080 --> 01:14:38,880
over of next july next july yeah all right so we're ways out yet uh breaking ground in july

614
01:14:38,880 --> 01:14:44,320
in that 12 month construction period oh this july you're going to break ground oh okay

615
01:14:44,480 --> 01:14:51,120
all right did you have anything else okay thank you gentlemen thank you thank you

616
01:14:54,640 --> 01:15:00,640
we did have um a public appearance on this again um yes the summer fell

617
01:15:01,600 --> 01:15:09,200
is that mine okay cast you can go ahead on 9.2

618
01:15:19,760 --> 01:15:23,360
cast if you could please state your name and municipality for the record

619
01:15:30,640 --> 01:15:36,880
yes cast can you hear us

620
01:15:37,760 --> 01:15:39,760
you

621
01:15:50,160 --> 01:15:52,160
suggestion

622
01:15:55,280 --> 01:15:56,960
yeah we heard the

623
01:15:56,960 --> 01:16:05,600
Sorry, Cass.

624
01:16:05,600 --> 01:16:07,520
We cannot hear you.

625
01:16:07,520 --> 01:16:19,080
I don't know if you are talking or you don't have a full number here for either.

626
01:16:19,080 --> 01:16:36,640
Sure, if I could maybe comment.

627
01:16:36,640 --> 01:16:41,640
So I believe Ms. Summerfield did submit an email asking about potential wetland impacts

628
01:16:41,640 --> 01:16:42,640
on the site.

629
01:16:42,640 --> 01:16:43,640
That is correct.

630
01:16:43,640 --> 01:16:48,760
And so just to follow through on that, I mentioned that as a condition of the conditional use

631
01:16:48,760 --> 01:16:53,920
permit, one of the conditions of approval is that there are documentation that there are

632
01:16:53,920 --> 01:16:58,800
no wetlands or wetland impacts on the site of the facility itself.

633
01:16:58,800 --> 01:17:03,240
I will say that that was added as a condition based on Ms. Summerfield's comments at the

634
01:17:03,240 --> 01:17:05,160
planning and zoning meeting.

635
01:17:05,160 --> 01:17:08,480
And we essentially already have that documentation.

636
01:17:08,480 --> 01:17:14,720
So there was a wetland delineation performed by a.

637
01:17:14,720 --> 01:17:21,460
And ecological group in like 2022 or 2024.

638
01:17:21,460 --> 01:17:25,880
And that was as part of the urban service area amendment sewer service extension when

639
01:17:25,880 --> 01:17:30,240
that site came into the USA.

640
01:17:30,240 --> 01:17:37,560
Did identify field identify what like a two acre wetland closer to highway V outside of

641
01:17:37,560 --> 01:17:42,640
the development CSM portion of the development.

642
01:17:42,640 --> 01:17:49,360
The wetland mapping that is on the DNR's website is outdated and still shows a portion

643
01:17:49,360 --> 01:17:53,480
like ponding, essentially in the center of the site, but the field identification didn't

644
01:17:53,480 --> 01:18:00,160
identify any wetlands there.

645
01:18:00,160 --> 01:18:06,720
I didn't have the opportunity to read her email, I believe she was asking for a pause

646
01:18:06,720 --> 01:18:09,840
because they're the email from the DNR.

647
01:18:09,840 --> 01:18:16,840
She differentiated between, I think, 3.72 and the 2.09 acres of wetland, but it looks

648
01:18:16,840 --> 01:18:23,280
like from reading Heartland's report that what they found like in the south was whatever

649
01:18:23,280 --> 01:18:26,320
they found was actually not functioning as a wetland.

650
01:18:26,320 --> 01:18:30,720
And so that's what was causing the discrepancy between the two, correct?

651
01:18:30,720 --> 01:18:32,200
Yeah, that's right.

652
01:18:32,200 --> 01:18:37,880
And so I have it now on my list to reach out to the DNR to at least alert them that

653
01:18:37,880 --> 01:18:42,440
this is an error and that that map is outdated.

654
01:18:42,440 --> 01:18:43,440
Thank you.

655
01:18:43,440 --> 01:18:51,240
And also we did get the approval, I guess, through the delineation report and DNR, I

656
01:18:51,240 --> 01:18:53,240
guess, to move forward, right?

657
01:18:53,240 --> 01:18:54,240
Yes.

658
01:18:54,240 --> 01:18:55,240
Yeah, those were all approved.

659
01:18:55,240 --> 01:18:56,240
Okay.

660
01:18:56,240 --> 01:19:06,240
Hi, can you hear me?

661
01:19:06,240 --> 01:19:07,240
Yes.

662
01:19:07,240 --> 01:19:09,240
Now we can.

663
01:19:09,240 --> 01:19:10,240
Hi.

664
01:19:10,240 --> 01:19:15,240
My name is, is it still okay for me to speak?

665
01:19:15,240 --> 01:19:18,240
Can you just louder, please?

666
01:19:18,240 --> 01:19:20,240
There we go.

667
01:19:20,240 --> 01:19:21,240
Okay.

668
01:19:22,240 --> 01:19:26,240
So my name is Cassandra Sommerfeld of Windsor.

669
01:19:26,240 --> 01:19:29,880
So I was reaching out, as he mentioned, I did send an email.

670
01:19:29,880 --> 01:19:34,480
So I did reach out to the DNR specifically and they did tell me that that was indeed

671
01:19:34,480 --> 01:19:36,040
a wetland.

672
01:19:36,040 --> 01:19:41,960
So it does sound like there has to be delineation done before any development could proceed.

673
01:19:41,960 --> 01:19:46,200
And that is not just from their website, I specifically spoke with someone and reached

674
01:19:46,200 --> 01:19:50,720
out to someone from the DNR and they did confirm that that is a wetland.

675
01:19:50,720 --> 01:19:55,640
At the planning and zoning meeting, it was said that the approval was contingent on it

676
01:19:55,640 --> 01:19:56,640
not being a wetland.

677
01:19:56,640 --> 01:20:00,800
So because the DNR is in fact saying that it is a wetland, I am challenging that we shouldn't

678
01:20:00,800 --> 01:20:04,280
have an agreement in place until it can be determined on whether or not this project

679
01:20:04,280 --> 01:20:09,760
should even go forward and whether or not it can even withstand being in that big of

680
01:20:09,760 --> 01:20:16,240
a scope of project.

681
01:20:16,240 --> 01:20:17,720
Thank you, Cass.

682
01:20:17,720 --> 01:20:18,720
Thank you.

683
01:20:18,720 --> 01:20:27,400
Anything else to add, Alex?

684
01:20:27,400 --> 01:20:32,760
I will follow up with that specific staff person that Ms. Sommerfeld was referencing

685
01:20:32,760 --> 01:20:37,000
and just let her know that they should correct that.

686
01:20:37,000 --> 01:20:43,800
Well, there certainly seems to be a lot of documentation here from the DNR and from

687
01:20:43,800 --> 01:20:47,080
Heartland that this is not a wetland.

688
01:20:47,080 --> 01:20:53,560
Yeah, and again, I would like to see more of a wet spot, but that looks like it might

689
01:20:53,560 --> 01:20:56,440
have been more of a wet spot.

690
01:20:56,440 --> 01:20:58,560
Well, so it wasn't field delineated.

691
01:20:58,560 --> 01:21:01,200
So that's part of what the delineation report is.

692
01:21:01,200 --> 01:21:05,440
They actually, so there's indicators that the mapping has and then a delineator will

693
01:21:05,440 --> 01:21:09,560
go out, I'm sure a delineator like this and actually do a field identification and say,

694
01:21:09,560 --> 01:21:11,440
is this a wetland or is it not?

695
01:21:11,440 --> 01:21:16,800
And so they did that delineation on the north side by Highway V. It didn't do a delineation

696
01:21:16,800 --> 01:21:19,480
there because they didn't find the presence of it.

697
01:21:19,480 --> 01:21:28,040
So and that that report was DNR, but again, if it gives the board a degree of comfort,

698
01:21:28,040 --> 01:21:32,800
I would also lean on the fact that our conditional use permit has that condition that it has

699
01:21:32,800 --> 01:21:33,960
to be demonstrated.

700
01:21:33,960 --> 01:21:37,800
And so prior to building permit, we'll still need that verification, which again, I think

701
01:21:37,800 --> 01:21:42,840
our staff feels like we have, but regardless, one way or the other, if this isn't sufficient,

702
01:21:42,840 --> 01:21:45,640
they'll still need to define that.

703
01:21:45,640 --> 01:21:49,680
Yes, I think that is of some comfort.

704
01:21:49,680 --> 01:21:53,400
Jim?

705
01:21:53,400 --> 01:21:54,400
I think it was covered.

706
01:21:54,400 --> 01:21:59,160
What I was going to say is far like you said, there's a lot of documentation and my understanding

707
01:21:59,160 --> 01:22:05,280
is when you're assured wetland, a linear, you go through a lot of certifications and stuff

708
01:22:05,280 --> 01:22:07,800
or a lot of training with the DNR.

709
01:22:07,800 --> 01:22:14,120
So your decisions are hold the same weight as if you were DNR staff.

710
01:22:14,120 --> 01:22:20,440
So I put a lot of emphasis on that the shirt, wetland delineator went out there and assured

711
01:22:20,440 --> 01:22:23,880
us that it's not a wetland.

712
01:22:23,880 --> 01:22:31,680
I do appreciate that it's in the CUP and that you're going to follow up, but I'm comfortable

713
01:22:31,680 --> 01:22:39,000
with where we stand right now.

714
01:22:39,000 --> 01:22:40,000
Thank you, Jim.

715
01:22:40,000 --> 01:22:42,000
Is there anyone else?

716
01:22:42,000 --> 01:22:43,000
Okay.

717
01:22:43,000 --> 01:22:55,080
It's Resolution 2026-067 that we are currently discussing and is there a motion, please, authorizing

718
01:22:55,080 --> 01:23:00,360
the village president and clerk to execute a development agreement with Ryan company's

719
01:23:00,360 --> 01:23:03,200
US, Inc.

720
01:23:03,200 --> 01:23:09,200
Yes, I'll make a motion to approve.

721
01:23:09,200 --> 01:23:14,000
I do want to have one point of discussion when that's hopefully seconded.

722
01:23:14,000 --> 01:23:15,000
Okay.

723
01:23:15,000 --> 01:23:18,440
Motion by Jim, is there a second?

724
01:23:18,440 --> 01:23:20,440
Second.

725
01:23:20,440 --> 01:23:21,440
Second by Alicia.

726
01:23:21,440 --> 01:23:22,440
Discussion?

727
01:23:22,440 --> 01:23:23,440
Jim.

728
01:23:24,440 --> 01:23:29,640
I guess I want to ask for some clarification as far as like where this is the developer's

729
01:23:29,640 --> 01:23:30,920
agreement.

730
01:23:30,920 --> 01:23:36,240
The one concern that I continue to have is with the drainage district and making sure

731
01:23:36,240 --> 01:23:42,120
that there is say an easement in place or however that water gets moved around or through

732
01:23:42,120 --> 01:23:43,840
this property.

733
01:23:43,840 --> 01:23:51,040
And I don't know how that would affect this agreement.

734
01:23:51,040 --> 01:23:54,840
So I can say that as part of the conditional use permit and then maybe Al can weigh in

735
01:23:54,840 --> 01:24:04,840
on any effect to this agreement and actually, maybe it's a condition of the CSM approvals

736
01:24:04,840 --> 01:24:06,680
where we just saw that.

737
01:24:06,680 --> 01:24:08,160
Yeah.

738
01:24:08,160 --> 01:24:19,640
So if you go back to the CSM ordinance, the condition that was in there was that a...

739
01:24:20,640 --> 01:24:23,880
Scroll up, I think it was maybe five.

740
01:24:23,880 --> 01:24:24,880
Yeah.

741
01:24:24,880 --> 01:24:28,520
Add a drainage easement to the benefit of the drainage district around the existing drain

742
01:24:28,520 --> 01:24:32,000
tile subject to village attorney and engineer approval.

743
01:24:32,000 --> 01:24:35,680
So is there a specific question that you're asking about?

744
01:24:35,680 --> 01:24:39,080
How would that relate to the development agreement?

745
01:24:39,080 --> 01:24:47,360
Yeah, right now, I'm hoping it, well, I shouldn't say, I think that it's not necessarily going

746
01:24:47,360 --> 01:24:54,480
to be too challenging to say the route the water if need be, either around the building.

747
01:24:54,480 --> 01:25:01,640
I can assume nobody wants to run a pipe under the building, but whatever the cost it takes

748
01:25:01,640 --> 01:25:03,520
to get the water around.

749
01:25:03,520 --> 01:25:07,840
And again, then it's up to the engineers that do the study, they even know if it needs to

750
01:25:07,840 --> 01:25:17,000
be done, but if it becomes cost prohibitive or if it starts looking to be a public improvement,

751
01:25:18,000 --> 01:25:24,000
a project instead of a developer thing, I just want to know if that needs to be taken

752
01:25:24,000 --> 01:25:27,320
into account in this agreement.

753
01:25:27,320 --> 01:25:32,520
I'm thinking we're good with the agreement that I would just have to come back as amendment

754
01:25:32,520 --> 01:25:36,560
if things grew out of that.

755
01:25:36,560 --> 01:25:43,280
Well, we're not assuming any obligation to handle that stormwater.

756
01:25:43,280 --> 01:25:46,440
It's up to the developer to work with the drainage district.

757
01:25:46,840 --> 01:25:51,520
Locate where that water is coming from, where it's running across the property and make

758
01:25:51,520 --> 01:25:53,040
accommodations for that.

759
01:25:53,040 --> 01:25:57,360
That's one of the conditions of the CSM and it's one of their legal requirements anyway,

760
01:25:57,360 --> 01:26:04,440
so, but there's nothing that requires us to put a storm sewer in or anything like that.

761
01:26:04,440 --> 01:26:05,960
Thank you, Jim.

762
01:26:05,960 --> 01:26:11,240
And I just add, we have our engineering firm and Greg and I have gone out and located

763
01:26:11,240 --> 01:26:12,240
the drain tile.

764
01:26:12,240 --> 01:26:15,920
We are aware of where it is and how that water runs through there.

765
01:26:15,920 --> 01:26:21,600
So we will be able to make sure that improvements they're doing are not impacting that.

766
01:26:21,600 --> 01:26:22,600
Okay.

767
01:26:22,600 --> 01:26:31,360
I think that covers my concern and I do want to state that I did have some history in there

768
01:26:31,360 --> 01:26:37,360
because I was part of the highway being interchange design many years ago, like less years ago.

769
01:26:37,360 --> 01:26:41,800
So I was aware of the issues of the water out there.

770
01:26:41,800 --> 01:26:48,040
So I do thank you, Cass, for bringing up the concerns because it has been a wet area,

771
01:26:48,040 --> 01:26:53,760
but because of the farm drainage district, it's been say-tillable for quite some time.

772
01:26:53,760 --> 01:26:58,360
So thank you.

773
01:26:58,360 --> 01:27:02,160
I think they pretty well covered it too in the Heartland Wetland report.

774
01:27:02,160 --> 01:27:09,160
They do talk about drainage and drainage shines and the efficacy of the drainage tiles.

775
01:27:10,160 --> 01:27:13,160
Anyone else have anything?

776
01:27:13,160 --> 01:27:14,160
Okay.

777
01:27:14,160 --> 01:27:17,160
We have a motion and a second.

778
01:27:17,160 --> 01:27:23,160
The motion is resolution authorizing president and current executed development agreement with Ryan.

779
01:27:23,160 --> 01:27:26,160
All those in favor of saying aye.

780
01:27:26,160 --> 01:27:27,160
Aye.

781
01:27:27,160 --> 01:27:28,160
All those opposed?

782
01:27:28,160 --> 01:27:29,160
No.

783
01:27:29,160 --> 01:27:31,160
Motion carries unanimously.

784
01:27:32,160 --> 01:27:37,160
Resolution 2026-068.

785
01:27:37,160 --> 01:27:44,160
Resolution authorizing the village president and clerk to execute a termination and mutual release agreement

786
01:27:44,160 --> 01:27:49,160
with JES to forest Wisconsin industrial LLC.

787
01:27:49,160 --> 01:27:57,160
3D to forest Wisconsin industrial LLC and to forest Wisconsin industrial LLC staff presentation by Bill Chang.

788
01:27:58,160 --> 01:28:01,160
Yeah, it's also related to this property.

789
01:28:01,160 --> 01:28:09,160
As shared previously, the current landowner had proposed multiple industrial facilities on the property.

790
01:28:09,160 --> 01:28:21,160
And at that time had CSM'd the property to the current arrangement as you see on this map.

791
01:28:22,160 --> 01:28:29,160
What we are proposing as part of the development, there was two separate development agreements.

792
01:28:29,160 --> 01:28:38,160
One for tax increment financing associated with guaranteed values on the property and construction timeline.

793
01:28:38,160 --> 01:28:46,160
And then second was construction obligations related to stormwater off the property.

794
01:28:47,160 --> 01:28:55,160
Because they tend to sell the property to this development that we discussed.

795
01:28:55,160 --> 01:29:04,160
In talking with the current landowner, we're proposing that we mutually release each other from obligations.

796
01:29:04,160 --> 01:29:11,160
From the village side, the obligations for TIFF and then from the developer side obligation on development.

797
01:29:11,160 --> 01:29:15,160
I'm happy to answer any other questions that you may have.

798
01:29:16,160 --> 01:29:30,160
So in other words, anything that we had going between JES 3D and forest Wisconsin industrial is all in the past and we're letting each other live.

799
01:29:30,160 --> 01:29:37,160
Yeah, the two agreements that Bill mentioned are regulating a development that's never going to happen.

800
01:29:38,160 --> 01:29:47,160
And so to make everything clear to everybody in the world that there are these kind of obligations that are floating out there.

801
01:29:47,160 --> 01:29:50,160
This would terminate those two agreements.

802
01:29:50,160 --> 01:29:56,160
They think we say everybody's done what they're supposed to do to this point, but there's no more obligations on either party.

803
01:29:56,160 --> 01:30:00,160
Well said.

804
01:30:01,160 --> 01:30:05,160
We have no public appearances registered for this topic.

805
01:30:05,160 --> 01:30:08,160
Is there a motion on 2026 all six.

806
01:30:08,160 --> 01:30:13,160
Motion to approve resolution 2026 068.

807
01:30:13,160 --> 01:30:15,160
And by Jan, is there a second?

808
01:30:15,160 --> 01:30:16,160
Second.

809
01:30:16,160 --> 01:30:17,160
Seconded by Melanie.

810
01:30:17,160 --> 01:30:19,160
We need further discussion.

811
01:30:19,160 --> 01:30:23,160
Seeing none, all those in favor indicate by saying aye.

812
01:30:23,160 --> 01:30:24,160
Aye.

813
01:30:24,160 --> 01:30:25,160
All those opposed no.

814
01:30:25,160 --> 01:30:28,160
Motion carries unanimously.

815
01:30:29,160 --> 01:30:38,160
Resolution 2026 069 a resolution authorizing the village president and clerk execute a second amendment.

816
01:30:38,160 --> 01:30:44,160
Two development agreement for Bueller farm subdivision staff presentation by Bill chain.

817
01:30:44,160 --> 01:30:47,160
I can take this one.

818
01:30:47,160 --> 01:30:54,160
So in 2024 we, the village approved a development agreement for the Bueller farm subdivision,

819
01:30:55,160 --> 01:30:59,160
which is being pulled up here, which included a portion of north town road.

820
01:30:59,160 --> 01:31:06,160
The southern three ish acres of the eastern most parcel there highlighted by the cursor cursor are.

821
01:31:06,160 --> 01:31:13,160
Potentially being purchased to develop a 50 unit affordable senior housing development.

822
01:31:13,160 --> 01:31:18,160
And as part of that, the existing development agreement has obligations that run with the land.

823
01:31:18,160 --> 01:31:25,160
The proposed developer would prefer that they only assume obligations that pertain to their development site.

824
01:31:25,160 --> 01:31:32,160
With the exception of the installation of a water main across the north side of that three acres.

825
01:31:32,160 --> 01:31:38,160
Everything else that's in the initial original development agreement would still be remain in place.

826
01:31:38,160 --> 01:31:40,160
Those obligations are still there.

827
01:31:40,160 --> 01:31:44,160
This is just sort of splitting responsibilities between the two parties.

828
01:31:45,160 --> 01:31:47,160
Happy to answer any question.

829
01:31:47,160 --> 01:31:49,160
Thank you, Alex.

830
01:31:49,160 --> 01:31:52,160
We have no public appearances.

831
01:31:54,160 --> 01:31:58,160
I would entertain a motion for 2026 069.

832
01:32:00,160 --> 01:32:02,160
Motion to approve.

833
01:32:02,160 --> 01:32:04,160
Motion by Jan. So second.

834
01:32:04,160 --> 01:32:05,160
Second.

835
01:32:05,160 --> 01:32:09,160
That will be seconded by.

836
01:32:10,160 --> 01:32:11,160
Questions.

837
01:32:15,160 --> 01:32:18,160
All those in favor of 2026 069 indicate by saying aye.

838
01:32:18,160 --> 01:32:19,160
Aye.

839
01:32:19,160 --> 01:32:21,160
All those opposed no.

840
01:32:21,160 --> 01:32:23,160
Motion carries unanimously.

841
01:32:23,160 --> 01:32:27,160
2026 at 070.

842
01:32:27,160 --> 01:32:38,160
The resolution authorizing the village president and clerk to execute a development agreement with PGUB LLC for a public water main extension.

843
01:32:39,160 --> 01:32:42,160
Staff presentation by Jug and Greg.

844
01:32:42,160 --> 01:32:51,160
Yep. So PGUB premier as a golf and utility vehicle facility that's being proposed to be built on the corner of.

845
01:32:51,160 --> 01:32:57,160
Dental road service road in County Highway CV. It's the piece that builds outlining.

846
01:32:57,160 --> 01:33:01,160
In order to do that, they need to get water service to that.

847
01:33:01,160 --> 01:33:08,160
Water service ends just about the property line, just a little self of the property line where the TA is before the.

848
01:33:08,160 --> 01:33:16,160
Storage facility there. So they would like to extend the water to all the way to the limits of highway CV basically.

849
01:33:16,160 --> 01:33:21,160
In preparation, so water can serve their property to the west side of that.

850
01:33:21,160 --> 01:33:26,160
So they will be undertaking this process. We have a development agreement to covers that.

851
01:33:26,160 --> 01:33:29,160
We will supervise that with our engineering firms.

852
01:33:29,160 --> 01:33:35,160
We're better to make sure the work matches what we are required to do for that service.

853
01:33:35,160 --> 01:33:41,160
They will be handling the sanitary at this point with holding tanks, much like the.

854
01:33:41,160 --> 01:33:45,160
Storage units across the street are doing at this point.

855
01:33:45,160 --> 01:33:52,160
If and when the property to the south of CV to just across the street there develops.

856
01:33:52,160 --> 01:33:55,160
At that point, then they'll undertake extending.

857
01:33:55,160 --> 01:34:01,160
The sewer of the service to get there to serve both of those parcels as well as the new one on CV.

858
01:34:01,160 --> 01:34:04,160
But for the time being, this is just to help them.

859
01:34:04,160 --> 01:34:09,160
Get their facility going and water main delivered further to the end.

860
01:34:09,160 --> 01:34:14,160
So any questions I'm happy to answer them, Devin Brian from Devin.

861
01:34:14,160 --> 01:34:19,160
Devin from Brian is also on. She's there engineering firm that works with.

862
01:34:19,160 --> 01:34:22,160
And developing this program.

863
01:34:22,160 --> 01:34:23,160
Melanie.

864
01:34:23,160 --> 01:34:29,160
I'm in my understanding correctly. We're supervising the work that the developers bearing the cost of the work.

865
01:34:29,160 --> 01:34:33,160
Correct. Yeah.

866
01:34:33,160 --> 01:34:41,160
I just wanted to point out for the board's benefit that this development itself is actually in the town of Burke.

867
01:34:41,160 --> 01:34:50,160
So you won't be reviewing the development itself. We're just dealing with the water under a intergovernmental agreement with the town of Burke.

868
01:34:50,160 --> 01:34:52,160
Yeah.

869
01:34:52,160 --> 01:34:59,160
And I would add, I believe correctly that not only is it in the Burke, it will not be coming to the villages.

870
01:34:59,160 --> 01:35:03,160
This is in the Madison area.

871
01:35:03,160 --> 01:35:04,160
Yes.

872
01:35:04,160 --> 01:35:05,160
Anyone else?

873
01:35:05,160 --> 01:35:15,160
We have no public appearances, so I would entertain the motion on 2026 070.

874
01:35:15,160 --> 01:35:20,160
I'll make the motion to approve resolution 2026 070.

875
01:35:20,160 --> 01:35:24,160
My Melanie to approve is a second.

876
01:35:24,160 --> 01:35:25,160
Second.

877
01:35:25,160 --> 01:35:27,160
Seconded by Jim.

878
01:35:27,160 --> 01:35:29,160
Further discussion.

879
01:35:29,160 --> 01:35:31,160
All those in favor indicate by saying aye.

880
01:35:31,160 --> 01:35:32,160
Aye.

881
01:35:32,160 --> 01:35:33,160
All those opposed? No.

882
01:35:33,160 --> 01:35:36,160
Motion carries unanimously.

883
01:35:36,160 --> 01:35:39,160
Resolution 2026 071.

884
01:35:39,160 --> 01:35:48,160
Resolution accepting the laws qualified bid and awarding a contract for construction of wayfinding and gateway science for the divorce yards district.

885
01:35:48,160 --> 01:35:51,160
Step presentation bill time.

886
01:35:51,160 --> 01:35:54,160
I'll take this.

887
01:35:55,160 --> 01:36:08,160
So yeah, we went out for bid for some gateway signs and wayfinding signs down in the 19 corridor near Williamsburg way before a charge district.

888
01:36:08,160 --> 01:36:10,160
We received three bids.

889
01:36:10,160 --> 01:36:21,160
The little bid was blank signs. They're out of Cleveland, Ohio for $163,770.95.

890
01:36:22,160 --> 01:36:26,160
Looking to get this approved and move forward with the.

891
01:36:26,160 --> 01:36:38,160
Construction of these signs, we will have to wait for the roundabout to be completed to put the gateway sign at that roundabout at Williamsburg way and Peterson crossing.

892
01:36:38,160 --> 01:36:48,160
I want to clarify that you'll see two bid prices there, one without solar and one was solar in our bid documents. We did prefer solar.

893
01:36:49,160 --> 01:36:52,160
Say the last word again in our documents, right?

894
01:36:52,160 --> 01:37:01,160
In our bid documents, we did prefer solar because there's an additional cost for a lion to get energy out there.

895
01:37:01,160 --> 01:37:03,160
So they are sold.

896
01:37:03,160 --> 01:37:07,160
They're going to be solar. Okay. Thank you.

897
01:37:07,160 --> 01:37:10,160
And see Brad.

898
01:37:10,160 --> 01:37:14,160
Was there a final package of design?

899
01:37:15,160 --> 01:37:24,160
Yes, I think we have the ones we saw last time. Yeah, it's the last ones.

900
01:37:24,160 --> 01:37:32,160
I don't know if that's in here or not. There are no pictures in the packet.

901
01:37:32,160 --> 01:37:39,160
We can forward them on. They are the same as what we've shared last meeting.

902
01:37:40,160 --> 01:37:44,160
Okay, do we have new public appearances on this item?

903
01:37:44,160 --> 01:37:50,160
Is there a motion to approve resolution 2026, zero, seven, zero.

904
01:37:50,160 --> 01:37:51,160
Make a motion.

905
01:37:51,160 --> 01:37:55,160
26, zero, seven, one.

906
01:37:55,160 --> 01:37:57,160
Sorry, I'll make a motion.

907
01:37:57,160 --> 01:38:00,160
Motion by Jan seconded by Brad.

908
01:38:00,160 --> 01:38:02,160
All those in favor indicate by saying aye.

909
01:38:02,160 --> 01:38:03,160
Aye.

910
01:38:03,160 --> 01:38:04,160
Opposed? No.

911
01:38:04,160 --> 01:38:07,160
Motion carries unanimously.

912
01:38:08,160 --> 01:38:11,160
Resolution 2026, zero, seven, two.

913
01:38:11,160 --> 01:38:14,160
Resolution accepting bids and awarding contracts.

914
01:38:14,160 --> 01:38:18,160
Materials and supplies for facts, ills, estates, trail.

915
01:38:18,160 --> 01:38:20,160
Judd and Greg.

916
01:38:20,160 --> 01:38:22,160
I'll take this one again.

917
01:38:22,160 --> 01:38:23,160
Okay.

918
01:38:23,160 --> 01:38:25,160
Feel like talking tonight, I guess.

919
01:38:25,160 --> 01:38:27,160
No.

920
01:38:27,160 --> 01:38:34,160
So, yeah, we solicit bids for the materials and supplies for the, the trail.

921
01:38:34,160 --> 01:38:39,160
I'm near five or Hooper and the fox ills, estates development.

922
01:38:39,160 --> 01:38:44,160
So the trail will come from off of Peterson crossing through the stormwater base and.

923
01:38:44,160 --> 01:38:48,160
Down to a moving fairway on the boat.

924
01:38:48,160 --> 01:38:53,160
We received two bids for asphalt pavement.

925
01:38:53,160 --> 01:38:56,160
Two bids for aggregate materials.

926
01:38:56,160 --> 01:38:59,160
Two bids for the erosion patrol materials.

927
01:39:00,160 --> 01:39:05,160
Two bids for the signage and two bids for the geotextile fabric.

928
01:39:05,160 --> 01:39:08,160
And then in the mammal.

929
01:39:08,160 --> 01:39:13,160
It states who was a little bit and the cost for each one.

930
01:39:13,160 --> 01:39:16,160
If you guys have any questions regarding that.

931
01:39:16,160 --> 01:39:20,160
I'm going to answer any questions.

932
01:39:20,160 --> 01:39:24,160
Not necessarily about the cost, just wondering on.

933
01:39:25,160 --> 01:39:28,160
Projected and maybe I missed it in here completion of.

934
01:39:28,160 --> 01:39:32,160
So yeah, so village staff will be doing this project.

935
01:39:32,160 --> 01:39:35,160
We'll start probably in July and.

936
01:39:35,160 --> 01:39:37,160
National August.

937
01:39:37,160 --> 01:39:38,160
Not too long.

938
01:39:38,160 --> 01:39:41,160
Yeah, to be fairly quick project.

939
01:39:41,160 --> 01:39:43,160
Well, they're pending.

940
01:39:43,160 --> 01:39:44,160
Sorry.

941
01:39:44,160 --> 01:39:45,160
Jim.

942
01:39:45,160 --> 01:39:48,160
That was sort of my question to is.

943
01:39:49,160 --> 01:39:53,160
Are we doing it sort of as a general contractor or are you getting the.

944
01:39:53,160 --> 01:39:56,160
It gets for us to place it ourselves something.

945
01:39:56,160 --> 01:39:58,160
Yeah, we'll get the aggregate ourselves.

946
01:39:58,160 --> 01:40:01,160
That's what the prices that we received.

947
01:40:01,160 --> 01:40:07,160
From the contract tractors here is just for the materials will go get it.

948
01:40:07,160 --> 01:40:09,160
And haul it to the site.

949
01:40:09,160 --> 01:40:10,160
Okay.

950
01:40:10,160 --> 01:40:12,160
We're doing all the work.

951
01:40:12,160 --> 01:40:13,160
Okay.

952
01:40:13,160 --> 01:40:14,160
Excavation.

953
01:40:14,160 --> 01:40:16,160
Installation on the rock.

954
01:40:17,160 --> 01:40:19,160
Erosion control.

955
01:40:19,160 --> 01:40:20,160
Fabric.

956
01:40:20,160 --> 01:40:22,160
Well, the roads are controlled.

957
01:40:22,160 --> 01:40:24,160
That's not placement of the roads in control.

958
01:40:24,160 --> 01:40:27,160
That's just getting the matting or whatever it is.

959
01:40:27,160 --> 01:40:28,160
Yeah.

960
01:40:28,160 --> 01:40:29,160
Okay.

961
01:40:29,160 --> 01:40:30,160
Thank you.

962
01:40:30,160 --> 01:40:35,160
We have no public appearances on this one.

963
01:40:35,160 --> 01:40:39,160
Is there a motion to resolution 2026 072.

964
01:40:39,160 --> 01:40:44,160
Motion to approve resolution 2026 72.

965
01:40:45,160 --> 01:40:47,160
Motion by Alicia, seconded by Jim.

966
01:40:47,160 --> 01:40:49,160
For the discussion.

967
01:40:49,160 --> 01:40:51,160
All those with me.

968
01:40:51,160 --> 01:40:52,160
We're going to keep my saying.

969
01:40:52,160 --> 01:40:54,160
I always suppose.

970
01:40:54,160 --> 01:40:55,160
No.

971
01:40:55,160 --> 01:40:57,160
Motion carries unanimously.

972
01:40:57,160 --> 01:41:01,160
Resolution 2026 073.

973
01:41:01,160 --> 01:41:05,160
Resolution amending the billage of the forest 2026.

974
01:41:05,160 --> 01:41:07,160
Capital improvement budget.

975
01:41:07,160 --> 01:41:10,160
Brandon, you're going to lead off.

976
01:41:10,160 --> 01:41:11,160
Yeah, absolutely.

977
01:41:12,160 --> 01:41:14,160
I'll give these guys a break and I will handle this one.

978
01:41:14,160 --> 01:41:15,160
So.

979
01:41:15,160 --> 01:41:18,160
As you all are known and aware throughout this year, you guys have

980
01:41:18,160 --> 01:41:22,160
approved a significant amount of projects that were not included

981
01:41:22,160 --> 01:41:26,160
within the initial capital improvement plan for 2026.

982
01:41:26,160 --> 01:41:29,160
So if someone with a mouse could pull up that exhibit.

983
01:41:29,160 --> 01:41:31,160
I think it's just the next tab.

984
01:41:31,160 --> 01:41:32,160
Within there.

985
01:41:32,160 --> 01:41:33,160
Thank you.

986
01:41:33,160 --> 01:41:37,160
So that very first graph that's up there is the capital improvement

987
01:41:37,160 --> 01:41:40,160
plan that was included within the 2026 budget.

988
01:41:41,160 --> 01:41:43,160
And the associated revenues.

989
01:41:43,160 --> 01:41:44,160
I would be.

990
01:41:44,160 --> 01:41:48,160
With those as well to and a total anticipated borrowing at the

991
01:41:48,160 --> 01:41:50,160
bottom of 14 million dollars.

992
01:41:50,160 --> 01:41:53,160
I'm sorry for the for being so small.

993
01:41:53,160 --> 01:41:55,160
That's a lot of data to throw into this.

994
01:41:55,160 --> 01:42:00,160
The next graph underneath it is the summary of all the amended

995
01:42:00,160 --> 01:42:05,160
changes that have that we're proposing tonight for approval.

996
01:42:05,160 --> 01:42:09,160
A couple of notable changes within there includes the fire

997
01:42:09,160 --> 01:42:12,160
station number two, which is recently approved at a village

998
01:42:12,160 --> 01:42:13,160
board meeting.

999
01:42:13,160 --> 01:42:16,160
Our rough estimate costs right now was just underneath four million

1000
01:42:16,160 --> 01:42:17,160
dollars.

1001
01:42:17,160 --> 01:42:19,160
So we rounded that up for four million.

1002
01:42:19,160 --> 01:42:22,160
That's going to be funded completely through debt service.

1003
01:42:22,160 --> 01:42:25,160
However, throughout the next couple of years, we'll be getting

1004
01:42:25,160 --> 01:42:28,160
increase in public safety charges.

1005
01:42:28,160 --> 01:42:31,160
Bill wants to come in.

1006
01:42:31,160 --> 01:42:35,160
I just want to remind the board that the villages share the

1007
01:42:35,160 --> 01:42:39,160
fire station is more than the four million weeks, but that over

1008
01:42:39,160 --> 01:42:40,160
two years.

1009
01:42:40,160 --> 01:42:42,160
Thank you.

1010
01:42:42,160 --> 01:42:43,160
Yeah.

1011
01:42:43,160 --> 01:42:47,160
So for for this year's portion of it, it'd be four million dollars

1012
01:42:47,160 --> 01:42:48,160
for it.

1013
01:42:48,160 --> 01:42:51,160
Coming completely out of debt within here.

1014
01:42:51,160 --> 01:42:57,160
Another notable increase is the property acquisition of 1.9

1015
01:42:57,160 --> 01:42:58,160
million dollars.

1016
01:42:58,160 --> 01:43:01,160
900,000 of that's going to be coming out of our fund.

1017
01:43:01,160 --> 01:43:04,160
So we're going to be going to be coming out of the fund.

1018
01:43:04,160 --> 01:43:07,160
We're going to be going to be coming out of the fund.

1019
01:43:07,160 --> 01:43:09,160
We're going to be coming out of the fund.

1020
01:43:09,160 --> 01:43:12,160
We're going to be coming out of the fund fund balance as well to

1021
01:43:12,160 --> 01:43:13,160
cover that amount.

1022
01:43:13,160 --> 01:43:16,160
Hickory lane reconstruction, which has been kind of talked about within

1023
01:43:16,160 --> 01:43:18,160
near while it's been within the works and planned.

1024
01:43:18,160 --> 01:43:21,160
It wasn't a part of the original 2026 capital improvement plan

1025
01:43:21,160 --> 01:43:22,160
budget.

1026
01:43:22,160 --> 01:43:24,160
So that full four million dollar.

1027
01:43:24,160 --> 01:43:27,160
Cost within the two district is within there,

1028
01:43:27,160 --> 01:43:31,160
but we included within the revenues portion a developer

1029
01:43:31,160 --> 01:43:33,160
agreement cost sharing portion.

1030
01:43:33,160 --> 01:43:36,160
So that number is a little over two million dollars.

1031
01:43:36,160 --> 01:43:40,160
1.329 million of it is associated with the hickory lane

1032
01:43:40,160 --> 01:43:45,160
reconstruction and the remaining 750,000 is associated with the

1033
01:43:45,160 --> 01:43:48,160
Lindy lane realignment within there.

1034
01:43:48,160 --> 01:43:52,160
From the last village board meeting, you all proved the

1035
01:43:53,160 --> 01:43:56,160
Floridation of the water distribution system within there,

1036
01:43:56,160 --> 01:43:58,160
327,000.

1037
01:43:58,160 --> 01:44:01,160
That's going to be funded completely through the water utility

1038
01:44:01,160 --> 01:44:04,160
itself and not taking out any additional debt or anything with

1039
01:44:04,160 --> 01:44:05,160
that.

1040
01:44:05,160 --> 01:44:07,160
I think Bill wants to comment on that as well too.

1041
01:44:07,160 --> 01:44:13,160
And a reminder is that that is capital expenditures related to

1042
01:44:13,160 --> 01:44:18,160
the wall improvements and equipment, some of which well

1043
01:44:18,160 --> 01:44:21,160
number two included roof improvements outside of the

1044
01:44:21,160 --> 01:44:24,160
fluoride issue itself.

1045
01:44:24,160 --> 01:44:25,160
Thank you.

1046
01:44:25,160 --> 01:44:29,160
And then the last notable improvement addition on here is the

1047
01:44:29,160 --> 01:44:34,160
new trail for TID 7 for the 89,800.

1048
01:44:34,160 --> 01:44:38,160
Notable removals that were moving from the plan include

1049
01:44:38,160 --> 01:44:41,160
additions within TID number nine.

1050
01:44:41,160 --> 01:44:46,160
So there was a TIA study, a traffic study within there.

1051
01:44:47,160 --> 01:44:49,160
That was initially in there for $65,000.

1052
01:44:49,160 --> 01:44:53,160
That was deemed no longer necessary within this capital improvement

1053
01:44:53,160 --> 01:44:54,160
plan adjustment.

1054
01:44:54,160 --> 01:44:59,160
The sanitary line improvements within TID number nine for $3

1055
01:44:59,160 --> 01:45:02,160
million was also removed within there.

1056
01:45:02,160 --> 01:45:08,160
The final graph had the sum of the differences.

1057
01:45:08,160 --> 01:45:09,160
Thank you.

1058
01:45:09,160 --> 01:45:15,160
Yeah, the sanitary line for $3 million was removed from the

1059
01:45:15,160 --> 01:45:16,160
plan.

1060
01:45:16,160 --> 01:45:21,160
Green acres within tax increment district number nine of $2.2

1061
01:45:21,160 --> 01:45:28,160
million was removed as well as the north and south road improvements

1062
01:45:28,160 --> 01:45:31,160
for green acres of 10 number nine for two and a half million

1063
01:45:31,160 --> 01:45:32,160
dollars.

1064
01:45:32,160 --> 01:45:35,160
And then the rest of the kind of adjustments of them there are

1065
01:45:35,160 --> 01:45:39,160
just kind of readjustments based off of actual bid pricing that

1066
01:45:39,160 --> 01:45:41,160
we've been receiving.

1067
01:45:41,160 --> 01:45:44,160
I think Bill has another comment.

1068
01:45:45,160 --> 01:45:50,160
So the reason for first such a expansive change in projects is

1069
01:45:50,160 --> 01:45:54,160
at the time when we were developing the plan and looking at

1070
01:45:54,160 --> 01:45:58,160
approval of the project and talking with the developers into

1071
01:45:58,160 --> 01:45:59,160
nine.

1072
01:45:59,160 --> 01:46:04,160
It seemed to us and at the time that the projects associated

1073
01:46:04,160 --> 01:46:10,160
with the particular improvements were going to advance rather

1074
01:46:10,160 --> 01:46:13,160
soon or at a faster pace.

1075
01:46:14,160 --> 01:46:17,160
Over the winter months in the beginning of the year here.

1076
01:46:17,160 --> 01:46:24,160
It resulted in that development or those developments delay or

1077
01:46:24,160 --> 01:46:28,160
stalling and the development that we just discussed advancing.

1078
01:46:28,160 --> 01:46:32,160
And so that's why we switched to a gray lane and set up green

1079
01:46:32,160 --> 01:46:36,160
acres, both of which are in our tax and human district plan.

1080
01:46:36,160 --> 01:46:39,160
And then overall the summary.

1081
01:46:40,160 --> 01:46:44,160
So with while we're adding about an additional four million

1082
01:46:44,160 --> 01:46:48,160
dollars worth of projects within the plan due to the additional

1083
01:46:48,160 --> 01:46:51,160
revenue offsets that we're adding, we're actually reducing our

1084
01:46:51,160 --> 01:46:55,160
borrowing that we need for this year from 14.2 million.

1085
01:46:55,160 --> 01:47:00,160
I'll round up to to 13.9 million or 330,000.

1086
01:47:00,160 --> 01:47:03,160
Now the next resolution you'll see about the parameters of

1087
01:47:03,160 --> 01:47:06,160
borrowing is a little over 14 million dollars.

1088
01:47:06,160 --> 01:47:08,160
However, there's associate bond council fees,

1089
01:47:08,160 --> 01:47:13,160
dollars fees, et cetera within there that sums up to that 14

1090
01:47:13,160 --> 01:47:14,160
million dollars.

1091
01:47:14,160 --> 01:47:17,160
Overall for the necessary borrowing for the project,

1092
01:47:17,160 --> 01:47:23,160
that is decreasing by $330,000 with this update.

1093
01:47:23,160 --> 01:47:28,160
Happy to answer any questions.

1094
01:47:28,160 --> 01:47:32,160
Anyone have any questions for Brendan?

1095
01:47:32,160 --> 01:47:39,160
Thank you.

1096
01:47:39,160 --> 01:47:45,160
Well, this is a relatively minor thing, but I came on to my

1097
01:47:45,160 --> 01:47:47,160
mind as we're explaining.

1098
01:47:47,160 --> 01:47:50,160
I think I'm asking Joe or Greg.

1099
01:47:50,160 --> 01:47:53,160
I don't know the frenzy here.

1100
01:47:53,160 --> 01:47:54,160
River.

1101
01:47:54,160 --> 01:47:56,160
Last time I had a meeting with them.

1102
01:47:56,160 --> 01:48:00,160
They told me that they were hoping to get a water monitoring

1103
01:48:00,160 --> 01:48:02,160
that was going on.

1104
01:48:02,160 --> 01:48:06,160
I don't know if there's room for us to do that in our

1105
01:48:06,160 --> 01:48:10,160
operational or something or if that could be included in here.

1106
01:48:10,160 --> 01:48:15,160
Again, I think it's really minor, but I know we're in danger

1107
01:48:15,160 --> 01:48:21,160
of losing, say, the water monitoring in our 12 sites or so

1108
01:48:21,160 --> 01:48:23,160
of the hair river.

1109
01:48:23,160 --> 01:48:27,160
So the next board meeting, the friends will become

1110
01:48:27,160 --> 01:48:30,160
here to address the board.

1111
01:48:30,160 --> 01:48:35,160
We have a line item in our operational budget to fund.

1112
01:48:35,160 --> 01:48:38,160
Things like the Friends of the Hour River project.

1113
01:48:38,160 --> 01:48:40,160
So they will be coming forward.

1114
01:48:40,160 --> 01:48:42,160
And I think that's part of their ask.

1115
01:48:42,160 --> 01:48:44,160
And we should be able to accommodate that.

1116
01:48:44,160 --> 01:48:48,160
But that will handle that at the next meeting or maybe even

1117
01:48:48,160 --> 01:48:51,160
the meeting in July when we can bring it back as an actual agenda

1118
01:48:51,160 --> 01:48:52,160
item.

1119
01:48:53,160 --> 01:48:58,160
So you think whatever may be asked can be accommodated in here

1120
01:48:58,160 --> 01:49:00,160
or do we need to take that into account?

1121
01:49:00,160 --> 01:49:02,160
It's within the operational budget.

1122
01:49:02,160 --> 01:49:03,160
So the money should be there.

1123
01:49:03,160 --> 01:49:04,160
Should not.

1124
01:49:04,160 --> 01:49:06,160
I don't think it would fall under borrowing.

1125
01:49:06,160 --> 01:49:07,160
Okay.

1126
01:49:07,160 --> 01:49:08,160
Yeah.

1127
01:49:08,160 --> 01:49:10,160
The amount isn't significant enough that we, I think we'd

1128
01:49:10,160 --> 01:49:11,160
want to borrow for it.

1129
01:49:11,160 --> 01:49:15,160
We'd find room in fund balance or another line item to

1130
01:49:16,160 --> 01:49:17,160
account it from.

1131
01:49:17,160 --> 01:49:18,160
Okay.

1132
01:49:18,160 --> 01:49:21,160
We have not public appearances on this.

1133
01:49:21,160 --> 01:49:26,160
I would entertain a motion to approve 2026 dash 073.

1134
01:49:26,160 --> 01:49:28,160
Motion to approve.

1135
01:49:28,160 --> 01:49:30,160
Motion to approve by Brad.

1136
01:49:30,160 --> 01:49:32,160
Is there a second?

1137
01:49:32,160 --> 01:49:33,160
Second.

1138
01:49:33,160 --> 01:49:35,160
Second by Alicia.

1139
01:49:35,160 --> 01:49:37,160
Further discussion?

1140
01:49:37,160 --> 01:49:39,160
All those in favor.

1141
01:49:39,160 --> 01:49:41,160
Indicate by saying aye.

1142
01:49:42,160 --> 01:49:44,160
All those in favor.

1143
01:49:44,160 --> 01:49:45,160
Indicate by saying aye.

1144
01:49:45,160 --> 01:49:46,160
Aye.

1145
01:49:46,160 --> 01:49:47,160
Aye.

1146
01:49:47,160 --> 01:49:48,160
All those opposed?

1147
01:49:48,160 --> 01:49:49,160
No.

1148
01:49:49,160 --> 01:49:50,160
No.

1149
01:49:50,160 --> 01:49:51,160
Okay.

1150
01:49:51,160 --> 01:49:52,160
Five.

1151
01:49:52,160 --> 01:49:53,160
One.

1152
01:49:53,160 --> 01:49:54,160
Asked.

1153
01:49:54,160 --> 01:50:03,160
Resolution 2026074 resolution authorizing the issuance and

1154
01:50:03,160 --> 01:50:07,160
establishing parameters for the sale of not to exceed 14 million

1155
01:50:08,160 --> 01:50:12,160
90,000 general obligation promissory notes.

1156
01:50:12,160 --> 01:50:14,160
Serious 2026 eight.

1157
01:50:14,160 --> 01:50:15,160
Yeah.

1158
01:50:15,160 --> 01:50:18,160
So with the capital improvement plan that you guys just had

1159
01:50:18,160 --> 01:50:21,160
approved, now we need a way to fund that.

1160
01:50:21,160 --> 01:50:25,160
And so what the village does is partner with Euler.

1161
01:50:25,160 --> 01:50:29,160
So we have Kayla Thorpere who is a municipal advisor with Euler's who

1162
01:50:29,160 --> 01:50:33,160
helps facilitate the sale of the debt issuance within here.

1163
01:50:33,160 --> 01:50:37,160
So included within your packet is a pre-sale report of just kind of

1164
01:50:37,160 --> 01:50:42,160
summarizing the entire sale of what the 14 million dollars would

1165
01:50:42,160 --> 01:50:46,160
look like, what our associated parameters are within here.

1166
01:50:46,160 --> 01:50:50,160
And then also the resolution itself is just a giant parameters

1167
01:50:50,160 --> 01:50:51,160
resolution.

1168
01:50:51,160 --> 01:50:53,160
So I'm going to just let Kayla Thorpe kind of take it away and just

1169
01:50:53,160 --> 01:50:55,160
explain it for you.

1170
01:50:55,160 --> 01:50:56,160
Thank you, Brandon.

1171
01:50:56,160 --> 01:50:57,160
Nice to see you.

1172
01:50:57,160 --> 01:51:00,160
Some new faces and you all again since last time was here.

1173
01:51:01,160 --> 01:51:03,160
But as Brendan mentioned, my name is Kayla Thorpere.

1174
01:51:03,160 --> 01:51:05,160
I'm the village's minimum sole advisor and work in a number of

1175
01:51:05,160 --> 01:51:08,160
different public financing mechanisms for the village.

1176
01:51:08,160 --> 01:51:11,160
And tonight before you use the prayers at parameters resolution and

1177
01:51:11,160 --> 01:51:14,160
the pre-sale report to fund the capital improvement plan you just

1178
01:51:14,160 --> 01:51:15,160
reviewed.

1179
01:51:15,160 --> 01:51:18,160
And as Brendan mentioned, it's just over 14 million dollars at 14

1180
01:51:18,160 --> 01:51:20,160
million, 90,000 dollars.

1181
01:51:20,160 --> 01:51:24,160
Included in the packet in the pre-sale report is a lot of like technical

1182
01:51:24,160 --> 01:51:28,160
and legal ease outlining the state statutes under which are authorized

1183
01:51:28,160 --> 01:51:31,160
to issue general obligation promissory notes.

1184
01:51:31,160 --> 01:51:35,160
The method of sale or rationale behind recommending the method of

1185
01:51:35,160 --> 01:51:38,160
sale, some of the nuances that are just related to notes.

1186
01:51:38,160 --> 01:51:41,160
I'm not going to go through those in detail, but if you do have any

1187
01:51:41,160 --> 01:51:44,160
questions, feel free to ask or stop me.

1188
01:51:44,160 --> 01:51:48,160
But you do have authority to issue general obligation notes under

1189
01:51:48,160 --> 01:51:51,160
67, 12, 12 of Wisconsin statutes.

1190
01:51:51,160 --> 01:51:54,160
These are general fund obligations or general obligations, which

1191
01:51:54,160 --> 01:51:57,160
mean they're backed by the full faith and credit of your property

1192
01:51:57,160 --> 01:51:58,160
tax in authority.

1193
01:51:58,160 --> 01:52:01,160
But this plan calls for a number of abatements, meaning the utilities

1194
01:52:01,160 --> 01:52:04,160
will be paying their own portion of the debt and the kids will be

1195
01:52:04,160 --> 01:52:06,160
paying their own portion of the debt.

1196
01:52:06,160 --> 01:52:08,160
And we'll walk through that in a little bit.

1197
01:52:08,160 --> 01:52:11,160
But if everything kind of blows up in the utilities collapse,

1198
01:52:11,160 --> 01:52:14,160
just know that it is backed by the property taxes.

1199
01:52:14,160 --> 01:52:18,160
And that is what a general obligation is talking about.

1200
01:52:18,160 --> 01:52:22,160
These are notes are being issued for a tenure basis.

1201
01:52:22,160 --> 01:52:25,160
You have the legal authority to issue over 20 years.

1202
01:52:25,160 --> 01:52:28,160
But the village has traditionally had a longstanding practice to

1203
01:52:28,160 --> 01:52:30,160
amortized debt over 10 years.

1204
01:52:30,160 --> 01:52:34,160
And this plan is in accordance with that longstanding practice.

1205
01:52:34,160 --> 01:52:37,160
And so the first principle and interest payment will be due in

1206
01:52:37,160 --> 01:52:41,160
July of 2027, which means you will love me for that in your

1207
01:52:41,160 --> 01:52:43,160
upcoming budget.

1208
01:52:43,160 --> 01:52:46,160
These are not being qualified, meaning you're planning to issue

1209
01:52:46,160 --> 01:52:47,160
over $10 million.

1210
01:52:47,160 --> 01:52:49,160
This issue alone is over $10 million.

1211
01:52:49,160 --> 01:52:52,160
It's just a designation that affects rates slightly.

1212
01:52:52,160 --> 01:52:55,160
But we've seen the gap close a little bit between big qualified

1213
01:52:55,160 --> 01:52:58,160
rates and non-bank qualified rates.

1214
01:52:58,160 --> 01:53:01,160
The village is currently rated by Moody's investor service.

1215
01:53:01,160 --> 01:53:03,160
We will be seeking a new rating for this.

1216
01:53:03,160 --> 01:53:07,160
And I believe the rating call is in two weeks in which your team

1217
01:53:07,160 --> 01:53:10,160
will participate and will walk through not only this issuance,

1218
01:53:10,160 --> 01:53:13,160
but the current state of development and growth within the city.

1219
01:53:13,160 --> 01:53:17,160
They really enjoy hearing about that and goes to kind of bolster any

1220
01:53:17,160 --> 01:53:20,160
opinions that they would have Moody's would have to issue your

1221
01:53:20,160 --> 01:53:21,160
credit rating.

1222
01:53:21,160 --> 01:53:25,160
I believe that the rating will be affirmed and we'll discuss a

1223
01:53:25,160 --> 01:53:30,160
strategy moving forward with your team about a potential upgrade

1224
01:53:30,160 --> 01:53:33,160
in the next over years when some of these developments start to

1225
01:53:33,160 --> 01:53:35,160
take off the ground.

1226
01:53:35,160 --> 01:53:38,160
I'm going to skip forward to the parameters.

1227
01:53:38,160 --> 01:53:41,160
And these are, this is kind of the cliff notes version of what the

1228
01:53:41,160 --> 01:53:45,160
resolution before you tonight states that the issue size is not to

1229
01:53:45,160 --> 01:53:50,160
exceed $14,090,000 with a maximum bit of 110%, 98%.

1230
01:53:50,160 --> 01:53:52,160
That doesn't really mean anything for you.

1231
01:53:52,160 --> 01:53:57,160
That means stuff to us that sets those parameters as to if there's

1232
01:53:57,160 --> 01:54:02,160
a premium bid or unused discount that we use to downsize the issue.

1233
01:54:02,160 --> 01:54:06,160
Or if there's basically they don't take enough cut that we've

1234
01:54:06,160 --> 01:54:10,160
built in, we're not going to increase the issue size just because

1235
01:54:10,160 --> 01:54:12,160
they didn't do what we asked them to do.

1236
01:54:12,160 --> 01:54:16,160
And so just kind of setting those parameters that if the bids are

1237
01:54:16,160 --> 01:54:19,160
outside of those parameters, we will reject them.

1238
01:54:19,160 --> 01:54:22,160
A maximum true interest cost of 4.25%.

1239
01:54:22,160 --> 01:54:25,160
That's based off of kind of the rate market at the time we put

1240
01:54:25,160 --> 01:54:29,160
together this plan, which was mid May, plus 50 basis points and

1241
01:54:29,160 --> 01:54:33,160
50 basis points is 0.5% when you're looking at an interest rate

1242
01:54:33,160 --> 01:54:34,160
perspective.

1243
01:54:34,160 --> 01:54:38,160
And which we believe at this time is enough cushion without kind of

1244
01:54:38,160 --> 01:54:42,160
giving us too much and signaling that to the market that we're

1245
01:54:42,160 --> 01:54:46,160
looking at higher interest rates when we don't want to do that.

1246
01:54:46,160 --> 01:54:50,160
I will note and I'll kind of run through some interest rate comparisons

1247
01:54:50,160 --> 01:54:52,160
the last few weeks.

1248
01:54:52,160 --> 01:54:56,160
We've seen municipal bond rates tick up not considerably, but

1249
01:54:56,160 --> 01:54:58,160
noticeably.

1250
01:54:58,160 --> 01:55:01,160
And so we'll talk about what we used as a planning rate.

1251
01:55:01,160 --> 01:55:02,160
I'll show you that.

1252
01:55:02,160 --> 01:55:05,160
And then what a current sale that happened this morning came in at.

1253
01:55:05,160 --> 01:55:09,160
And so we'll continue to monitor interest rates.

1254
01:55:09,160 --> 01:55:12,160
The good thing about the parameters resolution is you're

1255
01:55:12,160 --> 01:55:13,160
authorizing the sale.

1256
01:55:13,160 --> 01:55:16,160
You're not marrying yourselves to a sale date.

1257
01:55:16,160 --> 01:55:19,160
Right now the sale data scheduled on June 29th.

1258
01:55:19,160 --> 01:55:23,160
But if we enter another international conflict and we see the

1259
01:55:23,160 --> 01:55:26,160
market spike, we can certainly pause the sale leading up to it,

1260
01:55:26,160 --> 01:55:29,160
wait until the markets calm down and then off there and then move

1261
01:55:29,160 --> 01:55:32,160
forward with the sale and you will have to take no further action.

1262
01:55:32,160 --> 01:55:34,160
So that's kind of how that process would work.

1263
01:55:34,160 --> 01:55:37,160
We're getting a lot of questions about that as the interest rate

1264
01:55:37,160 --> 01:55:42,160
environment is volatile.

1265
01:55:42,160 --> 01:55:45,160
I'm going to jump through to just your partners in this.

1266
01:55:45,160 --> 01:55:48,160
We are your minutes full advisor and structure of the debt.

1267
01:55:48,160 --> 01:55:51,160
Your bond and disclosure counsel is corals and Brady.

1268
01:55:51,160 --> 01:55:53,160
Your pain agent is associated trust company.

1269
01:55:53,160 --> 01:55:56,160
That's basically just reminding and sending payment notices to the

1270
01:55:56,160 --> 01:55:59,160
staff to ensure that there's no delinquent payments.

1271
01:55:59,160 --> 01:56:02,160
And the rating agency is Moody's investor service.

1272
01:56:03,160 --> 01:56:06,160
The proposed data showing schedule is you're reviewing this report tonight

1273
01:56:06,160 --> 01:56:08,160
and authorizing the parameters resolution.

1274
01:56:08,160 --> 01:56:12,160
Week of June 15th we will have a conference with both the rating agency

1275
01:56:12,160 --> 01:56:15,160
and corals and Brady to review the official statement.

1276
01:56:15,160 --> 01:56:18,160
You can think of that as like the prospectus in the private bond

1277
01:56:18,160 --> 01:56:19,160
market.

1278
01:56:19,160 --> 01:56:22,160
It's an open book to your past financial performance.

1279
01:56:22,160 --> 01:56:26,160
The demographics of the community, the business profile, the community,

1280
01:56:26,160 --> 01:56:29,160
your fund balances, so on and so forth.

1281
01:56:29,160 --> 01:56:32,160
Basically giving the investors who are interested in bidding on your

1282
01:56:32,160 --> 01:56:35,160
bonds, a full look at your community.

1283
01:56:35,160 --> 01:56:39,160
And then we will distribute that official statement out of the sale

1284
01:56:39,160 --> 01:56:43,160
on June 29th or on June 22nd with the sale on June 29th.

1285
01:56:43,160 --> 01:56:46,160
We're estimated closing on July 16th.

1286
01:56:46,160 --> 01:56:49,160
That means that is when the village will receive the funds in their bank

1287
01:56:49,160 --> 01:56:50,160
account.

1288
01:56:50,160 --> 01:56:53,160
Our team is outlined here.

1289
01:56:53,160 --> 01:56:55,160
And then I'll jump into some tables.

1290
01:56:56,160 --> 01:57:00,160
Table one is the summary of the capital improvement plan that you just

1291
01:57:00,160 --> 01:57:01,160
reviewed.

1292
01:57:01,160 --> 01:57:04,160
This is only the borrowed portions of these projects.

1293
01:57:04,160 --> 01:57:08,160
It's not the other funding sources that will be paying cash for projects.

1294
01:57:08,160 --> 01:57:12,160
So this is just the borrowed money portions of this project.

1295
01:57:12,160 --> 01:57:16,160
So just over $13.8 million in total project costs that will be financed through

1296
01:57:16,160 --> 01:57:17,160
the debt issuance.

1297
01:57:17,160 --> 01:57:22,160
As Brenda mentioned, there's a number of issuance expenses in addition to our

1298
01:57:22,160 --> 01:57:25,160
maintenance full advisor fees, bond counsel and disclosure counsel

1299
01:57:25,160 --> 01:57:28,160
fees, the rating agency, the pain agent.

1300
01:57:28,160 --> 01:57:32,160
And then this maximum underwriters discount is kind of the spread between

1301
01:57:32,160 --> 01:57:36,160
what the bidder will take versus what they'll resell the bid on the

1302
01:57:36,160 --> 01:57:38,160
secondary market.

1303
01:57:38,160 --> 01:57:42,160
We do estimate some interest earnings, meaning you'll temporarily invest

1304
01:57:42,160 --> 01:57:45,160
these funds until they're needed to pay the project costs.

1305
01:57:45,160 --> 01:57:49,160
This is an ultra conservative estimate given kind of the fluctuation in some of

1306
01:57:49,160 --> 01:57:50,160
the timings that we have.

1307
01:57:50,160 --> 01:57:53,160
But about 3% interest earnings over three months.

1308
01:57:53,160 --> 01:57:57,160
And we use those interest earnings to then downsize the issuance, meaning

1309
01:57:57,160 --> 01:58:00,160
you're not earning more money just to have this additional money floating

1310
01:58:00,160 --> 01:58:01,160
down.

1311
01:58:01,160 --> 01:58:02,160
We're accounting for it.

1312
01:58:02,160 --> 01:58:04,160
We're going to downsize what we're issuing in debt.

1313
01:58:04,160 --> 01:58:10,160
And that's altogether where we get to the $14 million, $90,000.

1314
01:58:10,160 --> 01:58:16,160
This next chart, which is a lot of different columns, but as I mentioned,

1315
01:58:17,160 --> 01:58:21,160
each portion outside of the general levy portions will be paying for their own

1316
01:58:21,160 --> 01:58:22,160
debt.

1317
01:58:22,160 --> 01:58:25,160
And so you see here that there's a water sewer, stormwater portion and the

1318
01:58:25,160 --> 01:58:26,160
TID 7 and 9 portion.

1319
01:58:26,160 --> 01:58:30,160
That is the allocation for those specific utilities and those TID districts.

1320
01:58:30,160 --> 01:58:33,160
And those are the portions that the funds from those utilities and districts will

1321
01:58:33,160 --> 01:58:37,160
be paying themselves, meaning not levied for the revenues within those

1322
01:58:37,160 --> 01:58:40,160
specific sources will be paying for their debt.

1323
01:58:40,160 --> 01:58:44,160
That all kind of comes together in this next chart here.

1324
01:58:44,160 --> 01:58:50,160
Chart four, I believe it is, in which takes a look at your existing debt

1325
01:58:50,160 --> 01:58:51,160
profile.

1326
01:58:51,160 --> 01:58:55,160
So the blue moving left to right is your existing debt profile taking into

1327
01:58:55,160 --> 01:58:59,160
account your total abatements baked into this total abatements.

1328
01:58:59,160 --> 01:59:03,160
There's two balloon payments that are coming up, one in 27 and one in 28,

1329
01:59:03,160 --> 01:59:07,160
that the village has been planning for and has the cash on hand for.

1330
01:59:07,160 --> 01:59:12,160
I built that in here to get a nail down to what the actual debt service tax

1331
01:59:12,160 --> 01:59:14,160
levy would be to support the debt.

1332
01:59:14,160 --> 01:59:18,160
So just be aware that that's upcoming and built into this plan.

1333
01:59:18,160 --> 01:59:24,160
And so really you're slated for a tax increase, a tax levy increase in

1334
01:59:24,160 --> 01:59:27,160
2027 before debt starts to quickly drop off.

1335
01:59:27,160 --> 01:59:31,160
And you can kind of see now here the benefit of amortizing things over 10

1336
01:59:31,160 --> 01:59:35,160
years is you only have 10 years of outstanding debt payments before

1337
01:59:35,160 --> 01:59:37,160
everything is gone.

1338
01:59:37,160 --> 01:59:43,160
Moving to the right, we all built in the existing or the debt issue as

1339
01:59:43,160 --> 01:59:46,160
proposed here for tonight and those abatements I've outlined are all here

1340
01:59:46,160 --> 01:59:49,160
showing as negatives, meaning those sources will pay for themselves.

1341
01:59:49,160 --> 01:59:53,160
And we get down to a new debt service tax levy.

1342
01:59:53,160 --> 02:00:00,160
It does show quite a bit of an increase for $1.1 million and a related tax

1343
02:00:00,160 --> 02:00:01,160
increase.

1344
02:00:01,160 --> 02:00:04,160
But I will be very honest, we have a very, very conservative net new

1345
02:00:04,160 --> 02:00:07,160
construction built into this equalized value.

1346
02:00:07,160 --> 02:00:10,160
So the tax rate is determined obviously by 1000 of value.

1347
02:00:10,160 --> 02:00:15,160
We do everything equalized just because we can't predict what your assessment

1348
02:00:15,160 --> 02:00:16,160
ratio is.

1349
02:00:16,160 --> 02:00:20,160
And historically your last four year average for net new construction was

1350
02:00:20,160 --> 02:00:22,160
like 7.2%.

1351
02:00:22,160 --> 02:00:24,160
We discounted that by 50%.

1352
02:00:24,160 --> 02:00:28,160
So we're planning on a 3.5% net new construction.

1353
02:00:28,160 --> 02:00:31,160
I'm understanding that kind of you're planning more of an 11% this year.

1354
02:00:31,160 --> 02:00:36,160
So just understand that a lot of this impact will be eaten up by net new

1355
02:00:36,160 --> 02:00:37,160
construction.

1356
02:00:37,160 --> 02:00:42,160
And so this kind of tax rate impact and the overall tax impact through the

1357
02:00:42,160 --> 02:00:47,160
10 year note will largely be eaten up by any new value through net new

1358
02:00:47,160 --> 02:00:48,160
construction.

1359
02:00:48,160 --> 02:00:51,160
And then that's obviously not only new value that you can use for

1360
02:00:51,160 --> 02:00:55,160
the limit purposes, but then it spreads across the same piece of money

1361
02:00:55,160 --> 02:00:57,160
against that much more value.

1362
02:00:57,160 --> 02:00:58,160
Yes.

1363
02:00:59,160 --> 02:01:00,160
Yeah.

1364
02:01:00,160 --> 02:01:03,160
Looking at the payments here, maybe Brandon.

1365
02:01:03,160 --> 02:01:05,160
This question may be for you.

1366
02:01:05,160 --> 02:01:11,160
A large portion of our borrow is the 4 million for the fire station.

1367
02:01:11,160 --> 02:01:15,160
And we are currently collecting public service.

1368
02:01:15,160 --> 02:01:18,160
Public safety impact fees for that.

1369
02:01:18,160 --> 02:01:22,160
Now we're going to have to borrow again next year for the remaining portion.

1370
02:01:22,160 --> 02:01:26,160
And of course we collect those public safety impact fees.

1371
02:01:27,160 --> 02:01:29,160
At issue and self building.

1372
02:01:29,160 --> 02:01:31,160
So can you explain how.

1373
02:01:31,160 --> 02:01:34,160
We go through the process of making payments.

1374
02:01:34,160 --> 02:01:36,160
Around that public safety.

1375
02:01:36,160 --> 02:01:38,160
Revenue fund into you.

1376
02:01:38,160 --> 02:01:40,160
And how does it impact our.

1377
02:01:40,160 --> 02:01:42,160
I can take that if you want.

1378
02:01:42,160 --> 02:01:44,160
And so.

1379
02:01:44,160 --> 02:01:48,160
Impact fees are very in a traditional community that isn't rapidly growing.

1380
02:01:48,160 --> 02:01:50,160
Impact fees are very unpredictable.

1381
02:01:51,160 --> 02:01:55,160
And so we don't necessarily account for it as an abatement because one year,

1382
02:01:55,160 --> 02:01:58,160
it may be zero in the next year, it's a hundred thousand.

1383
02:01:58,160 --> 02:02:01,160
And so what your staff will do will basically say.

1384
02:02:01,160 --> 02:02:04,160
Impact fees collected in 2027.

1385
02:02:04,160 --> 02:02:07,160
We'll abate the debt service payments related to that.

1386
02:02:07,160 --> 02:02:09,160
Fire station in 2028.

1387
02:02:09,160 --> 02:02:11,160
So it's reactionary versus planned.

1388
02:02:11,160 --> 02:02:14,160
So what you're seeing here is kind of worst case scenario is that we don't

1389
02:02:14,160 --> 02:02:16,160
receive any public safety impact fees.

1390
02:02:17,160 --> 02:02:21,160
But then best case scenario, we have a consistent flow of impact fees,

1391
02:02:21,160 --> 02:02:24,160
which will then offset the future tax implications.

1392
02:02:24,160 --> 02:02:29,160
Again, you're in a perfect position where even borrowing the $16 million of

1393
02:02:29,160 --> 02:02:34,160
which or I should say $16 million of principal interest over 10 years is only

1394
02:02:34,160 --> 02:02:37,160
resulting for a tax increase in one of those 10 years.

1395
02:02:37,160 --> 02:02:41,160
And so with the debt falling off and we will always at allers kind of work

1396
02:02:41,160 --> 02:02:46,160
within the confines that the 10 years principal and interest payments should

1397
02:02:46,160 --> 02:02:48,160
wrap around the existing debt.

1398
02:02:48,160 --> 02:02:52,160
But it's really good position that any public safety impact fees will then

1399
02:02:52,160 --> 02:02:57,160
offset any of the what you're seeing here as a debt service tax levy,

1400
02:02:57,160 --> 02:03:01,160
which is already called to be decreasing after 2027, which will then

1401
02:03:01,160 --> 02:03:06,160
further decrease, but then also no annual burns will then add on to that.

1402
02:03:06,160 --> 02:03:11,160
So that's a reactionary and we don't traditionally plan it as an abatement

1403
02:03:11,160 --> 02:03:12,160
because it's unpredictable.

1404
02:03:15,160 --> 02:03:18,160
So then the final thing to kind of highlight on this page is that the total

1405
02:03:18,160 --> 02:03:20,160
cost of the new debt to the sample tax payer.

1406
02:03:20,160 --> 02:03:26,160
So this is just taking what is planned to be levied over 10 years on a $100,000

1407
02:03:26,160 --> 02:03:27,160
house is $302,000.

1408
02:03:27,160 --> 02:03:29,160
I like to use $102, I should say.

1409
02:03:29,160 --> 02:03:32,160
I like to use $100,000 as an annual fund.

1410
02:03:32,160 --> 02:03:35,160
Because then you can easily multiply that in your head.

1411
02:03:35,160 --> 02:03:40,160
So every 100,000 of your value, it will cost you $302 to fund this capital

1412
02:03:40,160 --> 02:03:42,160
improvement plan on the levy side.

1413
02:03:42,160 --> 02:03:45,160
This does not take into account any effect on utility rates.

1414
02:03:45,160 --> 02:03:50,160
And then the final chart is your general obligation debt capacity.

1415
02:03:50,160 --> 02:03:55,160
As you're aware, general obligation debt is limited to 5% of your equalized value

1416
02:03:55,160 --> 02:03:57,160
at any point in time.

1417
02:03:57,160 --> 02:04:02,160
The good thing with you with growing and I've built in what your anticipated

1418
02:04:02,160 --> 02:04:07,160
tidd closures are is that really going to have to very little impact on your

1419
02:04:07,160 --> 02:04:08,160
capacity to borrow.

1420
02:04:08,160 --> 02:04:13,160
But taking on this debt will put you from 32 to 42% of your debt capacity,

1421
02:04:13,160 --> 02:04:18,160
but with a remaining $81 million in capacity to borrow that quickly increases

1422
02:04:18,160 --> 02:04:19,160
thereafter.

1423
02:04:19,160 --> 02:04:21,160
And you can kind of see these big changes.

1424
02:04:21,160 --> 02:04:26,160
Both in equalized value and residual capacity are largely due to,

1425
02:04:26,160 --> 02:04:32,160
I believe we have nine tidd closures or seven tidd closures that are tentatively

1426
02:04:32,160 --> 02:04:34,160
could happen in the next 10 years.

1427
02:04:34,160 --> 02:04:36,160
So that's all I have for you tonight.

1428
02:04:36,160 --> 02:04:39,160
I'm happy to answer any questions you may have.

1429
02:04:40,160 --> 02:04:44,160
About two pages back, you're talking about the assumed,

1430
02:04:44,160 --> 02:04:46,160
I think you called it in that new growth.

1431
02:04:46,160 --> 02:04:47,160
Construction, yeah.

1432
02:04:47,160 --> 02:04:48,160
Yep.

1433
02:04:48,160 --> 02:04:53,160
And you're saying that we've been running at 7% and that you assumed 3.5% of your

1434
02:04:54,160 --> 02:04:55,160
debt.

1435
02:04:55,160 --> 02:05:00,160
And you're saying that we've been running at 7% and that you assumed 3.5% and

1436
02:05:00,160 --> 02:05:02,160
I'm a little bit,

1437
02:05:02,160 --> 02:05:04,160
what a question that is like,

1438
02:05:04,160 --> 02:05:06,160
how long have we been running?

1439
02:05:06,160 --> 02:05:11,160
Say at a approximate 7% because I do remember some years where there was like

1440
02:05:11,160 --> 02:05:14,160
known, not new houses.

1441
02:05:14,160 --> 02:05:15,160
I don't know.

1442
02:05:15,160 --> 02:05:16,160
I don't know.

1443
02:05:16,160 --> 02:05:17,160
I don't know.

1444
02:05:17,160 --> 02:05:18,160
I don't know.

1445
02:05:18,160 --> 02:05:19,160
I don't know.

1446
02:05:19,160 --> 02:05:24,160
I don't know how that applied to the commercial or.

1447
02:05:24,160 --> 02:05:25,160
Yeah.

1448
02:05:25,160 --> 02:05:27,160
So it includes net new construction includes everything.

1449
02:05:27,160 --> 02:05:30,160
So while you may have not added housing,

1450
02:05:30,160 --> 02:05:32,160
commercial still building.

1451
02:05:32,160 --> 02:05:34,160
And so we take a five year average,

1452
02:05:34,160 --> 02:05:37,160
your five year average of net new construction.

1453
02:05:37,160 --> 02:05:41,160
Tid in is 5.66%.

1454
02:05:41,160 --> 02:05:45,160
It was 7.8% in 2025.

1455
02:05:46,160 --> 02:05:51,160
5.03% in 24, 4.6 and 23.

1456
02:05:51,160 --> 02:05:54,160
And so we take that average of actual,

1457
02:05:54,160 --> 02:05:56,160
we like to be conservative in our estimates,

1458
02:05:56,160 --> 02:05:59,160
basically saying we're not going to assume growth is going to continue

1459
02:05:59,160 --> 02:06:01,160
happening at this pace.

1460
02:06:01,160 --> 02:06:03,160
Therefore, we don't want to.

1461
02:06:03,160 --> 02:06:06,160
Under estimate the impact on taxes.

1462
02:06:06,160 --> 02:06:11,160
And so we discounted that four year or five year average by 50%.

1463
02:06:11,160 --> 02:06:13,160
And so your growth in value.

1464
02:06:13,160 --> 02:06:17,160
We are projecting on a net new construction side is 3.49%.

1465
02:06:17,160 --> 02:06:21,160
Your economic change or natural economic appreciation and property

1466
02:06:21,160 --> 02:06:25,160
values has increased more than your net new construction.

1467
02:06:25,160 --> 02:06:27,160
That is 7.4%.

1468
02:06:27,160 --> 02:06:30,160
7.46% over the last five years.

1469
02:06:30,160 --> 02:06:34,160
And we've projected that at 50% 4.66 moving forward.

1470
02:06:34,160 --> 02:06:37,160
And so in some years in this plan,

1471
02:06:37,160 --> 02:06:40,160
and I should have included it in a chart.

1472
02:06:40,160 --> 02:06:44,160
As a thing is between those two and Tid closures,

1473
02:06:44,160 --> 02:06:48,160
some year you have 14% increases in value.

1474
02:06:48,160 --> 02:06:51,160
How that correlates to this is that's how we predict with the tax

1475
02:06:51,160 --> 02:06:53,160
impact is just a prediction.

1476
02:06:53,160 --> 02:06:55,160
The actual values will be what they are,

1477
02:06:55,160 --> 02:06:58,160
but we want to give you an understanding of on the property tax basis.

1478
02:06:58,160 --> 02:07:01,160
What is this new debt going to cost the taxpayers in our village?

1479
02:07:01,160 --> 02:07:04,160
And that's how we kind of map that out and estimate it.

1480
02:07:04,160 --> 02:07:06,160
It's all based off of value,

1481
02:07:06,160 --> 02:07:09,160
which is net new construction and natural appreciation and property

1482
02:07:09,160 --> 02:07:10,160
values.

1483
02:07:10,160 --> 02:07:12,160
And can I ask you your opinion?

1484
02:07:12,160 --> 02:07:15,160
That seems to be a conservative opinion.

1485
02:07:15,160 --> 02:07:17,160
Would you agree with that or rather?

1486
02:07:17,160 --> 02:07:19,160
I guess why I ask it this way.

1487
02:07:19,160 --> 02:07:22,160
What I've heard you saying it's all based on past history,

1488
02:07:22,160 --> 02:07:26,160
and I'm wondering if there's some forecasting involved too,

1489
02:07:26,160 --> 02:07:30,160
or do you feel it's pretty safe to forecast the future based on the

1490
02:07:30,160 --> 02:07:32,160
past five years?

1491
02:07:32,160 --> 02:07:35,160
Yeah, what you can't see here is a pretty significant spreadsheet,

1492
02:07:35,160 --> 02:07:38,160
which does forecast all the way up to 2056.

1493
02:07:38,160 --> 02:07:42,160
And what your values could be primarily baking in these

1494
02:07:42,160 --> 02:07:45,160
tidd closures that we are anticipating happening.

1495
02:07:45,160 --> 02:07:47,160
This is very conservative.

1496
02:07:47,160 --> 02:07:50,160
My understanding of the continued growth within the village and in

1497
02:07:50,160 --> 02:07:53,160
the region, which will continue to draw growth to the village,

1498
02:07:53,160 --> 02:07:57,160
this is conservative and is at least for the impact over the

1499
02:07:57,160 --> 02:08:02,160
next 10 years will can be maintained at around the level that

1500
02:08:02,160 --> 02:08:03,160
it currently is.

1501
02:08:03,160 --> 02:08:05,160
But now we've just kind of that 50%.

1502
02:08:05,160 --> 02:08:08,160
So even if it drops off, we're still within our estimates of

1503
02:08:08,160 --> 02:08:12,160
what the reasonable value could be and related tax impact.

1504
02:08:12,160 --> 02:08:13,160
Okay.

1505
02:08:13,160 --> 02:08:14,160
Thank you.

1506
02:08:14,160 --> 02:08:16,160
And then one other question, a different topic.

1507
02:08:16,160 --> 02:08:19,160
You show the 302.

1508
02:08:19,160 --> 02:08:22,160
That's the dark orange highlight.

1509
02:08:22,160 --> 02:08:23,160
Yeah.

1510
02:08:23,160 --> 02:08:27,160
So is that annually at the 100,000 value?

1511
02:08:27,160 --> 02:08:30,160
Oh, that's over the 10 year life of the know.

1512
02:08:30,160 --> 02:08:31,160
Okay.

1513
02:08:31,160 --> 02:08:35,160
So this, each of these rows are like the annual change over year

1514
02:08:35,160 --> 02:08:36,160
over year.

1515
02:08:36,160 --> 02:08:39,160
So you'll see that in the first year of your debt service payments,

1516
02:08:39,160 --> 02:08:44,160
the taxes are going to change $42 over what they were in 2026.

1517
02:08:44,160 --> 02:08:47,160
And then they're going to decrease because then the tax rate for

1518
02:08:47,160 --> 02:08:49,160
debt service is going to decrease.

1519
02:08:49,160 --> 02:08:52,160
Provided that you don't issue any more debt.

1520
02:08:52,160 --> 02:08:54,160
We know that next year's issuance is going to add to that.

1521
02:08:54,160 --> 02:08:58,160
But for all intents and purposes, this is going to cost $42 in the

1522
02:08:59,160 --> 02:09:01,160
first year decreasing thereafter.

1523
02:09:01,160 --> 02:09:05,160
You add some more context as well too.

1524
02:09:05,160 --> 02:09:09,160
So just in this entire exercise and essentially municipal financing

1525
02:09:09,160 --> 02:09:13,160
as a whole, we like to be as conservative as possible,

1526
02:09:13,160 --> 02:09:17,160
just because the world as we know it is always changing.

1527
02:09:17,160 --> 02:09:19,160
COVID had major impacts within here.

1528
02:09:19,160 --> 02:09:23,160
The current economic situations regarding the war.

1529
02:09:23,160 --> 02:09:25,160
That's going on right now.

1530
02:09:25,160 --> 02:09:28,160
And I'll let you even mention that too about how recent sales have

1531
02:09:28,160 --> 02:09:31,160
actually spiked up interest rates within year.

1532
02:09:31,160 --> 02:09:36,160
So we always try to budget and project out what the worst picture

1533
02:09:36,160 --> 02:09:37,160
would be.

1534
02:09:37,160 --> 02:09:41,160
And ultimately, the goal is, is that we'll have a much better picture

1535
02:09:41,160 --> 02:09:44,160
so that the board, as you review it at a high level level,

1536
02:09:44,160 --> 02:09:48,160
you can see here that in our projected worst picture,

1537
02:09:48,160 --> 02:09:53,160
the average tax payer on a hundred thousand assessed value

1538
02:09:53,160 --> 02:09:56,160
would go up 302 bucks over 10 years.

1539
02:09:56,160 --> 02:10:01,160
So that's just a little bit more context of like we could budget

1540
02:10:01,160 --> 02:10:04,160
the complete opposite way and say that, oh, yeah, we had seven

1541
02:10:04,160 --> 02:10:07,160
and a half percent in this last year and we could do seven and a half

1542
02:10:07,160 --> 02:10:09,160
percent the next year, et cetera, et cetera.

1543
02:10:09,160 --> 02:10:14,160
But there could be a significant amount of unpredicted things

1544
02:10:14,160 --> 02:10:17,160
happen within the village, within the state, within the world

1545
02:10:17,160 --> 02:10:21,160
that would cause us to go in a complete opposite financial picture.

1546
02:10:21,160 --> 02:10:25,160
So again, the goal, do it as conservative as possible while

1547
02:10:25,160 --> 02:10:27,160
having the least amount of impact.

1548
02:10:27,160 --> 02:10:31,160
And hopefully a better financial picture just based off of past

1549
02:10:31,160 --> 02:10:33,160
practices would continue.

1550
02:10:33,160 --> 02:10:36,160
Yeah, and echoing off a brand statement about interest rates.

1551
02:10:36,160 --> 02:10:38,160
I know I wanted to talk about that as well.

1552
02:10:38,160 --> 02:10:41,160
So you'll see these are planning interest rates in here.

1553
02:10:41,160 --> 02:10:46,160
This results in a true interest cost of just over 3.8% on a 10 year

1554
02:10:46,160 --> 02:10:47,160
note.

1555
02:10:47,160 --> 02:10:50,160
We had a sale this morning on a 20 year note of similar size that

1556
02:10:50,160 --> 02:10:51,160
came in at four.

1557
02:10:51,160 --> 02:10:55,160
But what we look at is the spread between what the underwriters buying

1558
02:10:55,160 --> 02:10:58,160
your things for and what their resign on the market.

1559
02:10:58,160 --> 02:11:03,160
And the increase in rates is on the back end of a 20 year note.

1560
02:11:03,160 --> 02:11:07,160
So this is probably pretty close to where we'll come in because all

1561
02:11:07,160 --> 02:11:12,160
that interest rate fluctuation is happening in years 17 through 20

1562
02:11:12,160 --> 02:11:13,160
on a 20 year note.

1563
02:11:13,160 --> 02:11:16,160
We're not seeing a lot of fluctuations in year one through 10.

1564
02:11:17,160 --> 02:11:20,160
And while you see here, we plan for a variable interest rate.

1565
02:11:20,160 --> 02:11:22,160
You pay on a fixed interest rate.

1566
02:11:22,160 --> 02:11:23,160
It'll be the same every year.

1567
02:11:23,160 --> 02:11:27,160
This is just I won't bother you with minutes go bond markets.

1568
02:11:27,160 --> 02:11:28,160
One on one.

1569
02:11:28,160 --> 02:11:30,160
It's complicating enough.

1570
02:11:30,160 --> 02:11:33,160
But just know that that is something we're monitoring.

1571
02:11:33,160 --> 02:11:34,160
We monitor.

1572
02:11:34,160 --> 02:11:35,160
We have a once.

1573
02:11:35,160 --> 02:11:38,160
So we call with our sales team to understand where the market rates

1574
02:11:38,160 --> 02:11:39,160
are.

1575
02:11:39,160 --> 02:11:41,160
And one more bit of context.

1576
02:11:42,160 --> 02:11:46,160
So like I had said before too, that we have a projected sale date

1577
02:11:46,160 --> 02:11:49,160
by the end of the month here, but we do not have to close on that.

1578
02:11:49,160 --> 02:11:53,160
If we don't close on it and we continue to kind of just fund it

1579
02:11:53,160 --> 02:11:56,160
ourselves until we eventually do close.

1580
02:11:56,160 --> 02:11:59,160
We do have to have alternative forms of financing within here.

1581
02:11:59,160 --> 02:12:03,160
So that's why we have fund balance policies within here.

1582
02:12:03,160 --> 02:12:06,160
Good, healthy fund balances where we can use those up.

1583
02:12:06,160 --> 02:12:10,160
And then eventually when we buy the debt at a favorable interest

1584
02:12:10,160 --> 02:12:14,160
rate, then that would just replenish the fund balance within there.

1585
02:12:21,160 --> 02:12:22,160
Okay.

1586
02:12:22,160 --> 02:12:25,160
I always come and drop a lot of information on you on a short

1587
02:12:25,160 --> 02:12:26,160
period of time.

1588
02:12:26,160 --> 02:12:29,160
I apologize, but I'm happy to answer any questions you would have.

1589
02:12:31,160 --> 02:12:34,160
Anybody got me that well enough to ask a question.

1590
02:12:34,160 --> 02:12:38,160
You can always schedule one on one with me and we can go through it

1591
02:12:38,160 --> 02:12:39,160
in more detail.

1592
02:12:39,160 --> 02:12:41,160
How good to know that.

1593
02:12:41,160 --> 02:12:43,160
Thank you, Kayla.

1594
02:12:43,160 --> 02:12:45,160
You obviously know your business.

1595
02:12:47,160 --> 02:12:48,160
Okay.

1596
02:12:48,160 --> 02:12:51,160
We have no public appearances on this.

1597
02:12:51,160 --> 02:12:54,160
Which again is resolution 2026.

1598
02:12:54,160 --> 02:13:00,160
074 authorizing insurance establishing parameters for the sale of not to exceed

1599
02:13:00,160 --> 02:13:03,160
14,000,000 general obligation.

1600
02:13:03,160 --> 02:13:04,160
Promissory notes.

1601
02:13:05,160 --> 02:13:06,160
Serious 2026.

1602
02:13:08,160 --> 02:13:09,160
Do I have a motion?

1603
02:13:12,160 --> 02:13:13,160
Motion to approve.

1604
02:13:14,160 --> 02:13:15,160
Motion by Brad.

1605
02:13:15,160 --> 02:13:16,160
Is there a second?

1606
02:13:16,160 --> 02:13:17,160
Second.

1607
02:13:17,160 --> 02:13:18,160
Second by Jan.

1608
02:13:18,160 --> 02:13:19,160
Any further discussion?

1609
02:13:20,160 --> 02:13:23,160
All those in favor indicate by saying aye.

1610
02:13:23,160 --> 02:13:24,160
Aye.

1611
02:13:24,160 --> 02:13:25,160
Opposed.

1612
02:13:25,160 --> 02:13:26,160
No.

1613
02:13:26,160 --> 02:13:28,160
Motion carries unanimously.

1614
02:13:29,160 --> 02:13:31,160
Resolution 2026.

1615
02:13:31,160 --> 02:13:36,160
076 resolution authorizing the village president and clerk to execute a loan

1616
02:13:36,160 --> 02:13:40,160
purchase agreement with the community development authority of the village of

1617
02:13:40,160 --> 02:13:41,160
the forest.

1618
02:13:41,160 --> 02:13:43,160
They have presentation help.

1619
02:13:43,160 --> 02:13:45,160
Oh, and you skipped one.

1620
02:13:45,160 --> 02:13:47,160
That's a 2026 test.

1621
02:13:47,160 --> 02:13:48,160
075.

1622
02:13:48,160 --> 02:13:49,160
Oh, I'm sorry.

1623
02:13:49,160 --> 02:13:50,160
I did.

1624
02:13:50,160 --> 02:13:51,160
Holy cow.

1625
02:13:52,160 --> 02:13:53,160
Resolution 2026.

1626
02:13:53,160 --> 02:13:57,160
075 resolution authorizing the village president and clerk to execute a loan

1627
02:13:57,160 --> 02:14:02,160
commitment letter with your hair crossing to forest LLC and the community

1628
02:14:02,160 --> 02:14:04,160
development authority of the village of the forest.

1629
02:14:04,160 --> 02:14:06,160
Staff is Alex and Bill.

1630
02:14:06,160 --> 02:14:13,160
Yes, I'll take these these these items here coming from the villages

1631
02:14:13,160 --> 02:14:14,160
standpoint.

1632
02:14:14,160 --> 02:14:19,160
So we've been requested by the CDA to provide a loan commitment letter as

1633
02:14:20,160 --> 02:14:27,160
part of their application for 4% low income housing tax credit program.

1634
02:14:29,160 --> 02:14:33,160
The loan the loan commitment letter is included in your packet.

1635
02:14:36,160 --> 02:14:37,160
See here.

1636
02:14:37,160 --> 02:14:40,160
I'll pause there to see if there are any questions.

1637
02:14:40,160 --> 02:14:43,160
Pretty straightforward here.

1638
02:14:44,160 --> 02:14:46,160
Yeah, go ahead.

1639
02:14:46,160 --> 02:14:48,160
Does the CDA.

1640
02:14:48,160 --> 02:14:52,160
Own your hair crossing LLC 100%.

1641
02:14:52,160 --> 02:14:56,160
100% it will eventually have an investor member that comes in,

1642
02:14:56,160 --> 02:14:58,160
but currently we're the sole.

1643
02:14:58,160 --> 02:15:00,160
When will that happen?

1644
02:15:00,160 --> 02:15:02,160
When we get the tax credits.

1645
02:15:02,160 --> 02:15:05,160
So the way that tax credit development works is.

1646
02:15:05,160 --> 02:15:07,160
So we're applying for.

1647
02:15:07,160 --> 02:15:09,160
With this in tow.

1648
02:15:09,160 --> 02:15:13,160
Applying for an allocation of tax credits and that gets purchased by

1649
02:15:13,160 --> 02:15:17,160
typically a financial institution who can utilize those tax credits against

1650
02:15:17,160 --> 02:15:18,160
their federal liability.

1651
02:15:18,160 --> 02:15:22,160
And they come into the LLC as an investor member to contribute the

1652
02:15:22,160 --> 02:15:24,160
equity to essentially build this.

1653
02:15:24,160 --> 02:15:26,160
So the the program.

1654
02:15:26,160 --> 02:15:31,160
Basically it gets funding into the construction of the ability of the

1655
02:15:31,160 --> 02:15:36,160
buildings by giving an allocation of tax credits to an entity.

1656
02:15:36,160 --> 02:15:38,160
Typically a financial institution.

1657
02:15:38,160 --> 02:15:41,160
So eventually there will be another member in there.

1658
02:15:41,160 --> 02:15:43,160
And then will they be.

1659
02:15:43,160 --> 02:15:45,160
100% owner.

1660
02:15:45,160 --> 02:15:47,160
No, CDA will always be.

1661
02:15:47,160 --> 02:15:50,160
There'll be a 0.01% owner.

1662
02:15:50,160 --> 02:15:54,160
So the investor member will be the 99.99%.

1663
02:15:54,160 --> 02:15:58,160
And then at the 15 year period, the CDA will have.

1664
02:15:58,160 --> 02:16:01,160
Right of first refusal to purchase the property outright.

1665
02:16:01,160 --> 02:16:05,160
From the investor member, because typically that's the compliance period

1666
02:16:05,160 --> 02:16:07,160
where they get their tax credits.

1667
02:16:07,160 --> 02:16:09,160
And once they no longer.

1668
02:16:09,160 --> 02:16:12,160
They basically want to be out at 15 years.

1669
02:16:12,160 --> 02:16:15,160
And so the CDA will then have the option to purchase the property.

1670
02:16:15,160 --> 02:16:18,160
Typically had a significantly discounted rate.

1671
02:16:18,160 --> 02:16:21,160
And then while in the development outright.

1672
02:16:21,160 --> 02:16:22,160
Okay.

1673
02:16:22,160 --> 02:16:26,160
So this is strictly the here crossing LLC is strictly.

1674
02:16:26,160 --> 02:16:28,160
The building owner.

1675
02:16:28,160 --> 02:16:30,160
The CDA is still going to run.

1676
02:16:30,160 --> 02:16:32,160
It happens there.

1677
02:16:32,160 --> 02:16:34,160
Correct.

1678
02:16:34,160 --> 02:16:36,160
Thank you.

1679
02:16:36,160 --> 02:16:40,160
Okay, we have no public appearances on this.

1680
02:16:40,160 --> 02:16:46,160
I would entertain a motion on resolution 20, 26, 0, 7, 5.

1681
02:16:46,160 --> 02:16:51,160
Make a motion to approve 2, 0, 2, 6, 0, 7, 5.

1682
02:16:52,160 --> 02:16:55,160
Make a motion to approve 2, 0, 2, 6, 0, 7, 5.

1683
02:16:55,160 --> 02:16:56,160
Motion by Alicia.

1684
02:16:56,160 --> 02:16:57,160
Is there a second?

1685
02:16:57,160 --> 02:16:58,160
Second.

1686
02:16:58,160 --> 02:17:00,160
Second by Melanie.

1687
02:17:00,160 --> 02:17:01,160
Jim.

1688
02:17:01,160 --> 02:17:02,160
Question.

1689
02:17:02,160 --> 02:17:03,160
Yes.

1690
02:17:03,160 --> 02:17:06,160
Talking about the ownership that's just brought up a question.

1691
02:17:06,160 --> 02:17:10,160
I mean, I think there's also management companies involved.

1692
02:17:10,160 --> 02:17:14,160
Can you explain how they are involved in housing or commercial?

1693
02:17:14,160 --> 02:17:15,160
Yep.

1694
02:17:16,160 --> 02:17:23,160
So in order to manage in Wisconsin, in order to manage a tax credit property, you have to be certified or approved.

1695
02:17:23,160 --> 02:17:27,160
Weida management agent and the CDA is an approved agent.

1696
02:17:27,160 --> 02:17:33,160
So we will be filing the application to weida for the tax credits as the management agent.

1697
02:17:33,160 --> 02:17:35,160
So we'll also manage the facility.

1698
02:17:35,160 --> 02:17:37,160
We'll own it and manage it.

1699
02:17:37,160 --> 02:17:39,160
I'll put commercial property.

1700
02:17:39,160 --> 02:17:41,160
We'll do that as well.

1701
02:17:41,160 --> 02:17:43,160
Thank you.

1702
02:17:45,160 --> 02:17:46,160
So I missed that.

1703
02:17:46,160 --> 02:17:51,160
Did you say the management is going to be CDA and weida for just the CDA?

1704
02:17:51,160 --> 02:17:52,160
Just the CDA.

1705
02:17:52,160 --> 02:17:53,160
Okay.

1706
02:17:53,160 --> 02:17:58,160
We have a motion and a second.

1707
02:17:58,160 --> 02:18:00,160
All those in favor.

1708
02:18:00,160 --> 02:18:02,160
In the case of saying aye.

1709
02:18:02,160 --> 02:18:03,160
Aye.

1710
02:18:03,160 --> 02:18:05,160
All those opposed in the case of saying no.

1711
02:18:05,160 --> 02:18:08,160
Motion carries unanimously.

1712
02:18:09,160 --> 02:18:12,160
Resolution 2026076.

1713
02:18:12,160 --> 02:18:20,160
Resolution authorizing the village president and clerk to execute a loan purchase agreement with the community development authority of the village of the forest.

1714
02:18:20,160 --> 02:18:23,160
Staff Alex and bill.

1715
02:18:23,160 --> 02:18:26,160
So I'll take this one too.

1716
02:18:26,160 --> 02:18:31,160
So as you know, the village currently has an agreement with.

1717
02:18:32,160 --> 02:18:39,160
The CDA to issue a loan of 3.5 million to your crossing LLC.

1718
02:18:39,160 --> 02:18:44,160
With the CDA being the care and care of that loan.

1719
02:18:44,160 --> 02:18:50,160
We understand that the CDA is in process of selling Jefferson Square.

1720
02:18:50,160 --> 02:18:55,160
And so what this agreement does is that it provides the opportunity.

1721
02:18:55,160 --> 02:19:01,160
Or the obligation for the CDA to purchase the loan from the village.

1722
02:19:01,160 --> 02:19:06,160
Based off of the sale of Jefferson Square.

1723
02:19:06,160 --> 02:19:14,160
So there is some parameters in here in regards to if the amount of sale is not the full amount of the loan.

1724
02:19:14,160 --> 02:19:17,160
And a portion of the law will be assigned.

1725
02:19:18,160 --> 02:19:27,160
However, discussing with Alex and the CDA, it's our understanding that the sale price will be over that 3.5 million amount.

1726
02:19:27,160 --> 02:19:32,160
We're not a steam towards end of that sentence. Can you repeat that?

1727
02:19:32,160 --> 02:19:39,160
My understanding that the mouth of the sale of Jefferson Square will be over that 3.5 million dollar amount.

1728
02:19:40,160 --> 02:19:45,160
We have no public appearances on this.

1729
02:19:45,160 --> 02:19:47,160
Do we have a motion to.

1730
02:19:47,160 --> 02:19:49,160
Oh, I'm sorry.

1731
02:19:49,160 --> 02:19:59,160
I just wanted to clarify for the board what what this agreement means is that these 3.5 million dollars you loaning to the LLC.

1732
02:19:59,160 --> 02:20:02,160
You may get your money back as early as next year.

1733
02:20:03,160 --> 02:20:11,160
If this other sale goes through. So the CDA would be basically substitute its money for the village's money in that loan scenario.

1734
02:20:20,160 --> 02:20:21,160
We have no public appearances.

1735
02:20:21,160 --> 02:20:24,160
Is there a motion to approve resolution 2026.

1736
02:20:24,160 --> 02:20:25,160
I got another.

1737
02:20:25,160 --> 02:20:26,160
Oh, I'm sorry.

1738
02:20:26,160 --> 02:20:28,160
I got to be better at this.

1739
02:20:28,160 --> 02:20:29,160
Right.

1740
02:20:29,160 --> 02:20:30,160
Go ahead.

1741
02:20:30,160 --> 02:20:31,160
Okay.

1742
02:20:31,160 --> 02:20:35,160
Okay, so the selling of this property.

1743
02:20:35,160 --> 02:20:37,160
Jefferson Square.

1744
02:20:37,160 --> 02:20:41,160
Currently, it's life leases for the tenants that live there.

1745
02:20:41,160 --> 02:20:47,160
So when we're selling to this property, those people will still have their life leases.

1746
02:20:47,160 --> 02:20:49,160
Right. That can't be broken.

1747
02:20:49,160 --> 02:20:50,160
Right.

1748
02:20:50,160 --> 02:20:57,160
So after those life leases, let's say someone is no longer able to live there.

1749
02:20:57,160 --> 02:20:59,160
The new owner.

1750
02:20:59,160 --> 02:21:06,160
Are they obligated at all to continue life leases or they can I am guessing they can do whatever they want with the property.

1751
02:21:06,160 --> 02:21:10,160
I can I comment.

1752
02:21:10,160 --> 02:21:12,160
Or are you going to comment.

1753
02:21:12,160 --> 02:21:19,160
So we are currently in negotiations with the prospect of purchaser.

1754
02:21:19,160 --> 02:21:23,160
So I want to be a little bit cautious with what I'm communicating.

1755
02:21:24,160 --> 02:21:30,160
But we, I will say that we did have the property that we, the CDA had the property appraised.

1756
02:21:30,160 --> 02:21:37,160
Based on the assumption that the property would continue to be managed under life lease, the similar structure.

1757
02:21:37,160 --> 02:21:39,160
And so the value issues put in place that way.

1758
02:21:39,160 --> 02:21:49,160
Now moving through those negotiations, whether we place an additional restriction on it that the property need to be managed that way as a contingency of sale.

1759
02:21:50,160 --> 02:21:55,160
I think is an open point of discussion without that as a condition of sale.

1760
02:21:55,160 --> 02:21:58,160
I would imagine that the property owner could do what they wish.

1761
02:21:58,160 --> 02:22:06,160
But those contracts are contractual obligations that I imagine would stay in place and they would have to negotiate their own buyouts of those.

1762
02:22:06,160 --> 02:22:08,160
Okay.

1763
02:22:08,160 --> 02:22:12,160
So what I'm hearing is that's kind of open at this point.

1764
02:22:12,160 --> 02:22:15,160
It could be that the new owner.

1765
02:22:16,160 --> 02:22:21,160
Must continue life leases for a certain amount of years.

1766
02:22:21,160 --> 02:22:27,160
If the contract is written that way, or we may allow them to do whatever they want with the property.

1767
02:22:29,160 --> 02:22:35,160
We've been the CDA. Yes. So that that's something that's still obviously very much.

1768
02:22:36,160 --> 02:22:44,160
Open and, you know, to again, just to be very to preserve the CDA's ability to negotiate the best price that we can get for it.

1769
02:22:44,160 --> 02:22:47,160
I will just say that we're very early in those negotiations.

1770
02:22:47,160 --> 02:22:50,160
And at this point, we've only just received a letter of intent.

1771
02:22:50,160 --> 02:22:55,160
So we're still kind of moving through that. The other thing that I'll say is that potential buyer.

1772
02:22:55,160 --> 02:22:58,160
Operates other properties in a similar fashion.

1773
02:22:58,160 --> 02:23:00,160
That's good to know.

1774
02:23:01,160 --> 02:23:08,160
I think that life leases are really beneficial for residents.

1775
02:23:08,160 --> 02:23:13,160
And, you know, we keep talking about how our seniors need.

1776
02:23:13,160 --> 02:23:18,160
Affordable places to live. And I think that is the best.

1777
02:23:18,160 --> 02:23:21,160
Option if you can afford to buy one.

1778
02:23:21,160 --> 02:23:24,160
I think it's great. That's why I'm just so.

1779
02:23:25,160 --> 02:23:30,160
I'm very concerned about this particular property because I think the life leases are great.

1780
02:23:30,160 --> 02:23:31,160
So thank you.

1781
02:23:35,160 --> 02:23:36,160
Anybody else?

1782
02:23:39,160 --> 02:23:41,160
Let's see.

1783
02:23:45,160 --> 02:23:47,160
I don't believe I have a motion yet.

1784
02:23:47,160 --> 02:23:51,160
Motion to approve 2026-76.

1785
02:23:52,160 --> 02:23:54,160
Motion by Alicia is there a second.

1786
02:23:57,160 --> 02:23:58,160
Thank you.

1787
02:23:58,160 --> 02:23:59,160
I'll second it.

1788
02:23:59,160 --> 02:24:01,160
Seconded by Jim.

1789
02:24:01,160 --> 02:24:04,160
All those in favor indicate by saying aye.

1790
02:24:04,160 --> 02:24:05,160
Aye.

1791
02:24:05,160 --> 02:24:07,160
All those opposed no.

1792
02:24:07,160 --> 02:24:09,160
Motion carries unanimously.

1793
02:24:11,160 --> 02:24:16,160
Convening into closed session resolution 2026-077.

1794
02:24:17,160 --> 02:24:24,160
Resolution authorizing the village president and clerk to execute an amended and restated employment agreement with the village administrator.

1795
02:24:24,160 --> 02:24:30,160
The village board may convene into closed session as authorized by Wisconsin statute 19.851c.

1796
02:24:30,160 --> 02:24:36,160
Considering employment promotion compensation or performance evaluation data.

1797
02:24:36,160 --> 02:24:42,160
Of any public employee over which the governmental body is jurisdiction or exercises responsibility.

1798
02:24:42,160 --> 02:24:50,160
The village board may reconvene in open session and further discuss or take action on the subject matter discussing closed session.

1799
02:24:52,160 --> 02:24:55,160
Staff presentation.

1800
02:24:55,160 --> 02:24:59,160
Quite simply.

1801
02:24:59,160 --> 02:25:03,160
Currently my contract is the original contract.

1802
02:25:03,160 --> 02:25:14,160
When I started in 2022 was an amendment in August of 22 to adjust the salary at that point.

1803
02:25:14,160 --> 02:25:17,160
Based off the performance evaluation.

1804
02:25:17,160 --> 02:25:23,160
As you can imagine in working towards.

1805
02:25:23,160 --> 02:25:30,160
As we're into the fourth year here of that contract or going on five years.

1806
02:25:31,160 --> 02:25:34,160
I'm requesting that the village board revisit the contract.

1807
02:25:34,160 --> 02:25:41,160
To provide more security in regards to term and compensation.

1808
02:25:43,160 --> 02:25:45,160
We need a motion.

1809
02:25:45,160 --> 02:25:49,160
Okay, I would make a motion to go into closed session.

1810
02:25:49,160 --> 02:25:50,160
Is there a second?

1811
02:25:50,160 --> 02:25:51,160
I'll second.

1812
02:25:51,160 --> 02:25:54,160
Seconded by Jan.

1813
02:25:54,160 --> 02:25:57,160
Kelly.

1814
02:25:57,160 --> 02:25:59,160
Me.

1815
02:25:59,160 --> 02:26:01,160
Trustee.

1816
02:26:01,160 --> 02:26:02,160
Trustee.

1817
02:26:02,160 --> 02:26:03,160
Trustee.

1818
02:26:03,160 --> 02:26:04,160
Trustee.

1819
02:26:04,160 --> 02:26:05,160
Trustee.

1820
02:26:05,160 --> 02:26:12,160
Trustee.

1821
02:26:12,160 --> 02:26:13,160
Trustee.

1822
02:26:13,160 --> 02:26:14,160
Trustee Simpson.

1823
02:26:14,160 --> 02:26:15,160
Trustee.

1824
02:26:15,160 --> 02:26:16,160
Stepan.

1825
02:26:16,160 --> 02:26:17,160
Hagenheim.

1826
02:26:17,160 --> 02:26:18,160
I.

1827
02:26:18,160 --> 02:26:19,160
Trustee Williams.

1828
02:26:19,160 --> 02:26:20,160
Trustee.

1829
02:26:20,160 --> 02:26:21,160
Burdoff.

1830
02:26:21,160 --> 02:26:22,160
I.

1831
02:26:22,160 --> 02:26:24,160
And President little.

1832
02:26:25,160 --> 02:26:27,160
Motion carries six zero.

1833
02:26:41,160 --> 02:26:48,160
I was going to suggest to make sure that we get the language right in the contract that we that you postpone action on this.

1834
02:26:48,160 --> 02:26:53,160
We will redraft the contract, attach that to the resolution and deal with the next board made.

1835
02:27:03,160 --> 02:27:04,160
Okay.

1836
02:27:04,160 --> 02:27:06,160
We get to go.

1837
02:27:10,160 --> 02:27:12,160
Yeah, so if you're going to postpone it.

1838
02:27:12,160 --> 02:27:16,160
I don't think you have to take any action on it.

1839
02:27:17,160 --> 02:27:20,160
This evening, and then you wouldn't just move on to community.

1840
02:27:20,160 --> 02:27:23,160
So coming out of close, we have no action.

1841
02:27:23,160 --> 02:27:26,160
That's correct.

1842
02:27:26,160 --> 02:27:28,160
Okay.

1843
02:27:28,160 --> 02:27:31,160
Check register was in the packet.

1844
02:27:31,160 --> 02:27:35,160
Committee commission and board reports public services.

1845
02:27:35,160 --> 02:27:39,160
Nothing public library, anything.

1846
02:27:39,160 --> 02:27:41,160
Landing and zoning anything.

1847
02:27:41,160 --> 02:27:42,160
Oh, I'm sorry.

1848
02:27:42,160 --> 02:27:43,160
These are minutes.

1849
02:27:43,160 --> 02:27:45,160
Oh, they're all in your packet.

1850
02:27:46,160 --> 02:27:48,160
President doesn't have a report.

1851
02:27:48,160 --> 02:27:51,160
Any other business that lawfully comes for the board.

1852
02:27:51,160 --> 02:27:52,160
Seeing none.

1853
02:27:52,160 --> 02:27:55,160
I would seek a motion to adjourn.

1854
02:27:55,160 --> 02:27:56,160
Motion to adjourn.

1855
02:27:56,160 --> 02:27:59,160
Motion by Alicia's or second.

1856
02:27:59,160 --> 02:28:00,160
Second.

1857
02:28:00,160 --> 02:28:03,160
Seconded by Melody.

1858
02:28:03,160 --> 02:28:06,160
I was in favor of the paper saying aye.

1859
02:28:06,160 --> 02:28:07,160
I was opposed.

1860
02:28:07,160 --> 02:28:08,160
No.

1861
02:28:08,160 --> 02:28:11,160
We are adjourned at a 27.

1862
02:28:11,160 --> 02:28:14,160
Motion having carried you now.